The local electric company requires a $ 200 refundable deposit from new customers in lieu of a

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The local electric company requires a $ 200 refundable deposit from new customers in lieu of a credit check. Landlord Pete pays this amount for all his new-to-town tenants. Can he deduct the $ 200 payments on his tax return?

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Federal Tax Research

ISBN: 9781285439396

10th Edition

Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill

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Question Posted: Oct 30, 2015 02:06 AM

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The local electric company requires a $ 200 refundable deposit from new customers in lieu of a

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A deduction is allowed even though there is no l...View the full answer

Federal Tax Research

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