turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mitzi11
New Member

If sales income was made on 12/31/17, but deposited to my business account by Square Inc on 1/2/18; which year should I claim it 2017 or 2018?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Ashby
New Member

If sales income was made on 12/31/17, but deposited to my business account by Square Inc on 1/2/18; which year should I claim it 2017 or 2018?

Are you working on a 2017 return? The real question is did you report it in 2017. 

The income should have been claimed for 2017 because you accepted the payment on that date

View solution in original post

1 Reply
Ashby
New Member

If sales income was made on 12/31/17, but deposited to my business account by Square Inc on 1/2/18; which year should I claim it 2017 or 2018?

Are you working on a 2017 return? The real question is did you report it in 2017. 

The income should have been claimed for 2017 because you accepted the payment on that date

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies