topic If electronic check writing on 12/31 and bank issues on 1/2, can check be credited in current year? in Get your taxes done using TurboTax

If electronic check writing on 12/31 and bank issues on 1/2, can check be credited in current year?

tedbaird — Tue, 24 Feb 2026 08:12:55 GMT

Re: If electronic check writing on 12/31 and bank issues on 1/2, can check be credited in current year?

Anonymous_ — Sun, 31 Dec 2023 17:33:22 GMT

Post more details.

Are you receiving the deposit on 1/2 or did you pay another individual or firm for some product or service?

Re: If electronic check writing on 12/31 and bank issues on 1/2, can check be credited in current year?

tedbaird — Sun, 31 Dec 2023 18:48:55 GMT

I paid another firm for service. Wondering if I can claim as expense in '23 if bank check won't be issued until 1/2, even if I sent bank issue for check on 12/31.

Re: If electronic check writing on 12/31 and bank issues on 1/2, can check be credited in current year?

Opus 17 — Sun, 31 Dec 2023 18:56:08 GMT

The question is, when did the money leave your control? If you could cancel the draft today or tomorrow, then it hasn't really left your control until 2024. Or, if there are no funds in your account, and the draft can't actually be paid until you make a deposit on 1/1 or 1/2/24, then the money hasn't left your control. If you can't cancel the draft, then I would say it was a 2023 payment by you, even though it will be 2024 income for the recipient.