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posted Jun 1, 2019 10:03:30 AM

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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1 Best answer
Expert Alumni
Jun 1, 2019 10:03:31 AM

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.

1 Replies
Expert Alumni
Jun 1, 2019 10:03:31 AM

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.