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This is related to an earlier post. Link

It is January 2024. I received in the mail a 1099 for a company with whom I work as an independent contractor. The 1099 amount is wrong because it includes a payment that the made to me (by check) in December 2023 that was lost in the mail. The next day the check was returned to them by the post office; they resent it and now that has arrived also. I have three choices:

  1. Insist they cancel the check in my hand, reissue one with a 2024 date, and amend the 1099.
  2. Deposit the check into my account now and pretend I received it as I should have; claim it on my 2023 taxes as if nothing happened.
  3. Deposit the check and not claim it on my 2023 taxes. This would give the appearance that I've refused to pay taxes on it and I'd probably have to do something about the difference between their 1099 claim and mine.

I'm tempted to do #2 because it seems simplest. But I usually run on a cash basis. Is that OK?

If it matters the amount is a few hundred dollars.

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    Why is it worth wasting your brain cells on this? Option 2, of course
    – littleadv
    Feb 5 at 21:37

1 Answer 1

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The best method is to tell your accountant what happened and let him or her take care of it.

But if you are doing your own accounting, my unprofessional opinion is to choose option 2: Put it on 2023 and be done with it. I can’t see any way where you would get in trouble for claiming a few hundred dollars of income earlier than (maybe) you should.

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