I did $7000 of contract work for a company in 2018. At this time I still haven't been paid for this work. Do I report this $7000 as income on this year's federal and state taxes even though I haven't received payment? If they pay me in 2019 is that when I pay taxes on the $7000? Do I report it as a loss on the 2018 taxes? Not sure what to do. I also haven't received a 1099 Misc yet from the company.
