Schedule C Expenses

If I receive self-employed Schedule C income in 2024 relating to work done in 2023, can I now (in 2024) deduct the 2023 expenses relating to that income?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Intuit Approved!

Schedule C Expenses

No. Assuming that you are on a cash basis you report income in the year received and expenses in the year you paid them.

View solution in original post

2 Replies

Intuit Approved!

Schedule C Expenses

No. Assuming that you are on a cash basis you report income in the year received and expenses in the year you paid them.

Schedule C Expenses

Thanks for the prompt response. Not the answer I was hoping for but it is what it is.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post