If i receive a deposit in 2018 for my rental property (HomeAWAY property-short term rental) that is for 2019 do i report it on this years taxes?

[clevine6]

Bought the house in 2018; made some repairs etc and put in out for rent for 2019

I don't use it and I received deposits for the period beginning 2019

Do I declare this income in 2018 ?- It's all refundable if they cancel

[DDollar · Accepted solution]

As an individual taxpayer, you are on a cash basis; therefore, you have to report the deposit you received as income.  It will be an expense when/if you return it, but it is income for 2018.