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musandra4589
New Member

We received a security deposit which the amount was included on a 1099 misc with the rent for do we include it as income

 
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MinhT
Expert Alumni

We received a security deposit which the amount was included on a 1099 misc with the rent for do we include it as income

It depends.

If you intend to reimburse the security deposit to your tenant at the end of the lease, then you do not include the security deposit as income.

If the security is meant to pay for the last month's rent of the lease, then you have to include as rental income in the year it was received.

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1 Reply
MinhT
Expert Alumni

We received a security deposit which the amount was included on a 1099 misc with the rent for do we include it as income

It depends.

If you intend to reimburse the security deposit to your tenant at the end of the lease, then you do not include the security deposit as income.

If the security is meant to pay for the last month's rent of the lease, then you have to include as rental income in the year it was received.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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