Invoice Date vs Payment Date

Forum|Forum|3 years ago
April 15, 2023
2 replies
7 views

Two questions

If the invoice date was in 2022 but the payment received is in 2023, do you claim that income for 2022 filing or 2023 filing?

second question, This is for self employed services paid through PayPal and didn’t receive a 1099k or 1099 misc. How would you file this in TurboTax

Thanks.

nsbaertsch

Level 2

You'll want to verify with an accountant, but I believe it has to do with what accounting method you use. We use "cash" method, so we count per the payment date not the invoice date.

MarilynG

Level 15

If you are a 'Cash Basis' Business, then you report the income when you actually receive it (most common).

You can check your election in your Business Profile.

Type 'Schedule C' in the Search area, then 'Jump to schedule c' and EDIT your Business to go through the Business Info screens.

@SPK2K

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Invoice Date vs Payment Date

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