5 ms·
I guess you were taxed on cash accounting not accrual?
by hsjsbeebue 3y ago
I guess you were taxed on cash accounting not accrual?
- UncleOxidant 3y agoDidn't receive the income for 4 months of rent until January of the next year. Reported the income in the year it was received. Isn't that generally how it works? (not an accountant or a tax expert)
- dragonwriter 3y agoIndividual income taxes in the US are usually cash basis (it is poasible to change to accrual, but from what I understand it almost never makes sense for an individual to do so.) And only individual income taxes would be directly relevant to individual ACA subsidy eligibility.