purchase date vs posted date to determine the tax year

ddsobolev · ‎March 5, 2022

As the self-employed, I paid the certain amount for some service which I want to claim for tax deduction.

I paid it using my credit card.

This transaction has Dec 30 2021 as the purchase date, but Jan 3 2022 as the posting date.

Can I use it for tax year 2021 deductions?

AliciaP1 · ‎March 5, 2022

Yes, the date you use the credit card (12/30 in your example) counts as the purchase date for business expenses for tax purposes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

AliciaP1 · ‎March 5, 2022

Yes, the date you use the credit card (12/30 in your example) counts as the purchase date for business expenses for tax purposes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.