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New Member
posted Feb 13, 2025 2:09:43 AM

What year am I suppose file for?

I’m a 1099-misc, my pay period ends the 30th of December 2024, pay didnt go through until January 13th. My question is do I file for 2024?

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1 Replies
Expert Alumni
Feb 13, 2025 5:26:32 AM

No. As a cash basis tax payer, if you did not receive any of the payments in 2024, then you would not include it on your 2024.  You include the money on your return in the year you receive it, not the year you earn it. 

 

Did you get a 1099-Misc? Or are you keeping track for your own records?

 

If you did get a 1099-Misc, you will need to contact the payer to have them correct the error.  If they do not, then you would enter the 1099 on your return and then remove the income in the Less common income area of TurboTax.  This is so the 1099 is reported and your return is not flagged, but also so you are not improperly claiming income in the wrong year.  You will then include the income, but not the 1099 on your return next year. You will list it as non-self employment income so you do not pay SE taxes on it as backing the income out will not back out the SE taxes

 

To enter the 1099 Misc as non-self-employment income take the following steps:

  • Income
  • 1099-MIsc under Other Common Income
  • Enter the information from the 1099-MIsc
  • Continue through and say the work does NOT involve work that is like your main job
  • Select the years you received it
  • Say no, to did this involve an intent to earn money

Then you will take the following steps to remove the income:

  • Income
  • Less Common Income
  • Miscellaneous Income
  • Other Reportable Income
  • Answer Yes to Any Other Taxable Income
  • Enter the description such as 1099-Misc received for income not received in tax year or wrong year reporting
  • Enter the amount on the 1099-Misc as a negative number.