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How do I handle self employment reporting when a 2020 1099-NEC includes income that I did not receive until 2021, and I'm running my business on a cash basis?
I was paid monthly on a retainer as an independent contractor. Although they cut checks for November and December 2020 and included both on their 2020 1099-NEC, I did not receive either of them until January 2021. On a cash basis, should these two payments be reported on my 2020 taxes, or 2021 taxes?
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ā€ˇFebruary 6, 2021
8:40 AM