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My client uses Accrual basis accounting and I use Cash basis. The 1099 they issued is larger than what I deposited (from them) in 2017 -- how would I resolve this?
One of my clients uses Accrual basis accounting, and I use Cash basis accounting. Consequently, they issued me a 1099-MISC with a larger amount than I actually received from them during 2017.
Since I have to enter all my 1099s (in the income section), how do I exclude the amount that I did not deposit during 2017? i.e., so it doesn't conflict with my declared income for 2017. Thanks
e.g., hypothetically, if they issued me a 1099-misc for $1,000 and I only received and deposited $500 during the 2017 calendar year, how would I handle this in Turbotax.
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‎June 3, 2019
6:19 PM