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Schedule E: When to deduct expenses incurred in 2019 but paid in 2020?
Thanks in advance. Need help filling out Schedule E for a royalty interest. I incurred taxes on the interest in 2019, but paid them in 2020. Do I deduct the expense on my 2019 or 2020 Schedule E?
I normally pay for this expense the same year it is incurred, so it is no problem. This time I paid late. I truly appreciate any help you can give.
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‎June 24, 2020
9:48 PM