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Gus1
New Member

I would like to present a 1099 misc for 2016 in 2017. How can I do it?

Would you like to present a 1099 misc for 2016 in 2017 as I can?
1 Reply
HelenaC
New Member

I would like to present a 1099 misc for 2016 in 2017. How can I do it?

You cannot include a 2016 1099-MISC form on your 2017 income tax returns. Most taxpayers who receive income as an "independent contractor" are on a cash basis.  Cash Basis is when you report income and expenses based on when they are received or paid. To file 2016 income tax return(s), click on How do I file a prior year tax return?

The cash method .  The cash method is the more commonly used method of accounting in small business. Under the cash method, income is not counted until cash (or a check) is actually received, and expenses are not counted until they are actually paid.

The accrual method.  Income is counted when the sale occurs, and expenses are counted when you receive the goods or services. You don't have to wait until you see the money, or actually pay money out of your checking account, to record a transaction. 

See IRS Publication 334 Accounting Periods and Methods for additional information.

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