Can we submitt this income in 2018?

elderjd · ‎June 6, 2019

We received a 1099 for 2017 on February 6, 2018. The payment was actually received in January of 2018 and we have a signed release document to support this (from the law firm). Do you agree this income should be submitted for 2018 Income Taxes?

IsabellaG · ‎June 6, 2019

Yes, if you actually received the income in 2018, and have the documentation to prove it, then it belongs on your 2018 return. You will assuredly be contacted by the IRS about this 1099, unless the payer corrects it, so be prepared to defend your position.

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IsabellaG · ‎June 6, 2019

Yes, if you actually received the income in 2018, and have the documentation to prove it, then it belongs on your 2018 return. You will assuredly be contacted by the IRS about this 1099, unless the payer corrects it, so be prepared to defend your position.

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

elderjd · ‎June 6, 2019

Thank you. This information is very helpful.

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Can we submitt this income in 2018?