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Level 1
June 5, 2019
Question

Im showing a net loss but 2 jobs havent paid yet for Dec 18. The missing income would show profit.

  • June 5, 2019
  • 1 reply
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1 reply

Level 5
June 5, 2019

Hi mastercarpenter1 - If you are a cash basis taxpayer (most people are), then you will report the income when you receive it, not when the work happened. Most likely you should report the missing income once the 2 jobs have paid you (i.e. on your 2019 return).