When deposits are includable in gross income

*This information is for Model City Tax Code purposes only.

(a) Refundable deposits shall be includable as gross income of the taxpayer for the month in which the deposits are forfeited by the lessee.

(b) Nonrefundable deposits for cleaning, keys, pet fees, maintenance, or for any other purpose are deemed gross income upon receipt.

++(Local Option #S:

(b) (Reserved))++