Tax deduction acquired in 2016 deferred until 2017

[richnglo95]

I paid a publishing company money in 2016 to have a book published in 2017. If there is a tax deduction as a result, can I wait until 2017 to post this?

[NancyG · Accepted solution]

Generally, as a cash basis taxpayer, you would take tax deductions in the year incurred. You would report the expenses on IRS Schedule C.

Although you did not state the book was an eBook, you may find the information in the following link helpful:

A Tax Cheat Sheet for Kindle eBook Self-Publishing