Landlords generally apply security deposits as rent from tenants who cannot otherwise pay or use them to repair damage caused by tenants.
Security deposits are not considered taxable income. Local laws often treat security deposits as trust funds. Security deposits that are used as final rent payments must be claimed as advance rent and are taxable when paid.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
security deposit — n: money provided by a tenant to a landlord to secure performance of a rental agreement or compensate for possible loss or damage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. security deposit … Law dictionary
Security deposit — In the field of taxation, a deposit is not included as gross income to the receiving party until the depositing party chooses to apply the funds to purchase services. A 1990 ruling [ Commissioner v. Indianapolis Power Light Co. , 493 U.S. 203… … Wikipedia
security deposit — See margin. The CENTER ONLINE Futures Glossary The amount required to be deposited with CME Clearing by the clearing member as security for its obligations to the CME Clearing. Chicago Mercantile Exchange Glossary * * * security deposit UK US… … Financial and business terms
security deposit — noun An amount of money paid in advance as security against the payors non performance of a contractual obligation. The landlord demanded one month security deposit for rent, another for damage to the apartment, and one month rent in advance … Wiktionary
security deposit — Money deposited by tenant with landlord as security for full and faithful performance by tenant of terms of lease, including damages to premises. It is refundable unless the tenant has caused damage or injury to the property or has breached the… … Black's law dictionary
security deposit — noun the amount of collateral a customer deposits with a broker when borrowing from the broker to buy securities • Syn: ↑margin • Hypernyms: ↑down payment, ↑deposit * * * noun, pl ⋯ its [count] : an amount of money that you pay when you begin to… … Useful english dictionary
security deposit — See security … Ballentine's law dictionary
security deposit — se curity de.posit n an amount of money that you give to a ↑landlord before you rent a house or apartment, and that is returned to you after you leave if you have not damaged the property … Dictionary of contemporary English
security deposit — Fin an amount of money paid before a transaction occurs to provide the seller with recourse in the event that the transaction is not concluded and this is the buyer’s fault … The ultimate business dictionary
Security deposit maintenance — обслуживание депонирования ценных бумаг. См. также: Расчетные палаты Финансовый словарь Финам … Финансовый словарь