PTIN Seal

Rental Expenses

  1. PTINdirectory
  2. Tax Knowledge Database
  3. Rental Expenses
  4. Is the security deposit I received on my rental property taxable in the current year?

Is the security deposit I received on my rental property taxable in the current year?

If there is an agreement between you and the tenant that the security deposit will be used for the final rent payment, then it is included as rental income in the current year. If this is not the case, then it should not be included as income.

Need Professional Help?

If you need help with "Rental Expenses" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.