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Bill in Advance, Sold Business
I billed my clients quarterly in advance, Nov-Jan, Dec-Feb (rolling quarters). I sold my business to another firm effective 1/1/2024. So the 1099-NEC I received from my custodian shows income for Jan-Feb 2024 that belonged to the new firm. How can I account for this on my Schedule C so my income isn't overstated?
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‎April 9, 2024
12:46 PM