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djfox30
New Member

Does the income count for 2021 or 2022 taxes if I started work at the end of 2021? I submitted an invoice but didn't receive payment until Jan 2022.

 
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2 Replies

Does the income count for 2021 or 2022 taxes if I started work at the end of 2021? I submitted an invoice but didn't receive payment until Jan 2022.

Income received in 2022 is reported on your 2022 return assuming you are on a cash basis. 

RobertB4444
Expert Alumni

Does the income count for 2021 or 2022 taxes if I started work at the end of 2021? I submitted an invoice but didn't receive payment until Jan 2022.

You are a cash basis tax payer.  The income counts when you receive it.  If you received it in 2022 it is 2022 income.

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