I'm preparing my return for 2018 and have a rental property. The renter vacated the property in February and was subsequently rented again. The security deposit was returned to the original renter. When I entered the income from the property into Turbo Tax, the program prompted me to include the security deposit for the new renter into the income for the property for 2018. How do I record the security deposit that was returned to the original renter into the program?
You'll need to sign in or create an account to connect with an expert.
If the deposit from the first renter was reported as income when you received it, you can deduct the reimbursement of that deposit as a rental expense in Miscellaneous Expenses and describe it as Reimbursement of renter's deposit.
If the deposit from the first renter was reported as income when you received it, you can deduct the reimbursement of that deposit as a rental expense in Miscellaneous Expenses and describe it as Reimbursement of renter's deposit.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
savannahbenning99
New Member
davidpervin
New Member
69TransAm
Level 1
sk8inggrams77
New Member
rab77
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.