Landlord took 6% state and 20% federal taxes out of my security deposit. He stated to me that he had to pay taxes on my security deposit. Is it legal? Don't security deposits accrue interest ?
Asked on 2/14/18, 4:48 pm
2 Answers from Attorneys
Samuel Stamas
Law Office of Samuel G. Stamas
No taxes on a security deposit. It's not income. Even if it was he shouldn't be charging any taxes on his/her income.
Answered on 2/14/18, 5:20 pm
Armen Tashjian
Law Offices of Armen M. Tashjian
Demand your money back. If not given back, take landlord to the small claims court. Don't forget to add your small claims court costs.
Answered on 2/15/18, 8:51 am
