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April 12, 2025
Question

1099-nec received this year fro work performed last year. Can I take deductions against it this year?

  • April 12, 2025
  • 1 reply
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1099-nec received this year fro work performed last year. Can I take deductions against it this year?

1 reply

Employee
April 12, 2025

You can only take deductions that occurred in the year the 1099-nec was issued for. If it was for 2024 the deductions had to occur in 2024.  Any deductions for 2025 would be applied next year when you do your 2025 taxes.