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August 7, 2021
Question

1099 Income vs Cash Basis Received

  • August 7, 2021
  • 1 reply
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I received a 1099-MISC from a client for $25000.  Only problem is the last check was cut 12/30/20 and not received until 1/7/21 and deposited on 1/9/21.  My cash basis accounting will only show $20,000 earned in 2020 not $25,000.  How do I account for the timing difference.

    1 reply

    August 7, 2021