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Business & farm
You can still issue the contractors 1099's. That doesn't change when you can deduct the costs. You still paid them in 2021, so that is when you would report that you paid them, you simply can't take the deduction for paying them yet.
You will continue to track these expenses until you actually open for business. You will do this with rent as well, if the rent is part of your start up costs.
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‎April 14, 2022
9:11 AM