ErnieS0
Expert Alumni

Get your taxes done using TurboTax

Yes. The answers by Champ @rjs and Tax Expert @ColeenD3 are correct @doorz50. Income is reported in the year received, even if was supposed to be paid in the prior year, but delayed.

 

The IRS has a concept called constructive receipt, meaning income is "constructively received" when an amount is credited to your account or made available to you without restriction.

 

Constructive receipt

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