It would be best to use schedule C to report the business income you received in 2024 along with the business expenses, assuming you filed your business income and expenses on a schedule C previously and on a cash basis. This means that you report income and expenses for your business in the year you receive revenue and incur expenses.
The revenue is clearly related to a business activity and the expenses are necessary and ordinary for the generation of business income, so they should be reported as such.
Another option would be to amend the prior year return and report the income and expenses in that year even though they weren't realized until the next year. Your justification for reporting them in the year before they were realized would be that you ceased business activities in that year so it would be appropriate to recognize revenue and expenses in the year in which the related work occurred.
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