Security deposits: a cause for concern? (Tax Issues): An article from: Journal of Property Management

This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on March 1, 1992. The length of the article is 1619 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The nature of security deposits negotiated by property managers must be clearly ascertained to ensure that they are treated as true deposits rather than as advanced payments. If treated as true deposits rather than as advanced rentals, they can be deferred until the next taxable year rather than being claimed as immediate gross income. The Supreme Court's decision in the 'Indianapolis Power & Light' case affirms the importance of distinguishing whether deposit receipts are true deposits rather than advanced receipts. One way to ensure that the distinction is made clearly is to ensure that the language of lease agreements is carefully worded.

Citation Details
Title: Security deposits: a cause for concern? (Tax Issues)
Author: Jerome S. Horvitz
Publication:Journal of Property Management (Refereed)
Date: March 1, 1992
Publisher: Institute of Real Estate Management
Volume: v57 Issue: n2 Page: p62(2)

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