Re-Imbursement for Prior Year Entertainment Expenses
Cash basis taxpayer receives re-imbursement for prior year entertainment expenses.
Even though this was paid in 2010, would this be recognized on the 2009 tax return to match income with expenses?
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02/10/10 7:37am PST
Viewed by asker 03/01/10 1:46pm PST
Viewed by asker 03/01/10 1:46pm PST
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1 Reply
Dusty2004
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The solution
Since a Cash basis taxpayer counts income in the year received and expenses in the year paid I would say in the year they receive the money.
Dusty
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