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declaring tenancy deposit on tax form

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  • 11-08-2018 5:28am
    #1
    beaufoy
    Registered Users Posts: 324 ✭✭


    Does the LL declare as income when the deposit is received and expence when paid back


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    #2
    DubCount
    Registered Users Posts: 1,065 ✭✭✭DubCount


    No.  Its not income.  Only if some/all of the deposit is retained against unpaid rent/repairs does it become income.
    Think of it like a loan, there is an expectation it will be repaid.


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    #3
    Glass fused light
    Registered Users Posts: 1,576 ✭✭✭Glass fused light


    Nope, it's not your money, just resting in your account, and hopefully if all goes well will be repaid back in full at the end of the lease.


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