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Schedule C: Which year should I deduct expenses (Purchase date or date the charge posts to my credit statement)
I purchased equipment for my photography business with an invoice date of Dec 3, 2021 but my credit card will not be charged until January 1, 2022. I use the cash method of accounting.
Which tax year (2021 or 2022) should I take a Section 179 Deduction?
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‎December 31, 2021
2:30 PM