topic I leased a residential care facility for business under a rent-to-own contract. I paid a deposit in the contract. Is the deposit considered as business expense? in Getting started https://turbotax.community.intuit.ca/community/getting-started/discussion/i-leased-a-residential-care-facility-for-business-under-a-rent-to-own-contract-i-paid-a-deposit-in/01/880959#M931 Wed, 30 Oct 2019 02:29:43 GMT maxroxas 2019-10-30T02:29:43Z I leased a residential care facility for business under a rent-to-own contract. I paid a deposit in the contract. Is the deposit considered as business expense? https://turbotax.community.intuit.ca/community/getting-started/discussion/i-leased-a-residential-care-facility-for-business-under-a-rent-to-own-contract-i-paid-a-deposit-in/01/880959#M931 Wed, 30 Oct 2019 02:29:43 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/i-leased-a-residential-care-facility-for-business-under-a-rent-to-own-contract-i-paid-a-deposit-in/01/880959#M931 maxroxas 2019-10-30T02:29:43Z No.  It might be considered a prepaid item, if first and... https://turbotax.community.intuit.ca/community/getting-started/discussion/no-it-might-be-considered-a-prepaid-item-if-first-and/01/880960#M932 <P>No.&nbsp; It might be considered a prepaid item, if first and last month of the lease is considered in the agreement, or it may be considered a receivable amount, such as deposit receivable.&nbsp; It is not an expense until such time as it is forfeited, or paid in lieu of rent.<BR /></P> Wed, 30 Oct 2019 02:29:43 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/no-it-might-be-considered-a-prepaid-item-if-first-and/01/880960#M932 Delphision 2019-10-30T02:29:43Z
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topic I leased a residential care facility for business under a rent-to-own contract. I paid a deposit in the contract. Is the deposit considered as business expense? in Getting started
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https://turbotax.community.intuit.ca/community/getting-started/discussion/i-leased-a-residential-care-facility-for-business-under-a-rent-to-own-contract-i-paid-a-deposit-in/01/880959#M931
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I leased a residential care facility for business under a rent-to-own contract. I paid a deposit in the contract. Is the deposit considered as business expense?
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No.  It might be considered a prepaid item, if first and...
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<P>No.&nbsp; It might be considered a prepaid item, if first and last month of the lease is considered in the agreement, or it may be considered a receivable amount, such as deposit receivable.&nbsp; It is not an expense until such time as it is forfeited, or paid in lieu of rent.<BR /></P>
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