Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 2:01:38 AM

If services rendered and expenses incurred happen in 2018 but compensation for services don't occur until 2019, how is that handled?

0 1 269
1 Replies
New Member
Jun 6, 2019 2:01:38 AM

Assuming that you are asking this question as an individual, you are a Cash Basis taxpayer.  Income is taxable to you in the year that you receive the money.  Note that if you are received funds in 2019, the payer should also furnish you with a 1099 for 2019 in 2020.