schedule C professional org dues deduction in year paid or year paid for
I realized that I renewed my 2024 org dues in Dec '23 while I renewed for 2023 in Jan '23. For what tax year do I deduct the dues paid in Dec'23.
Thanks!
I realized that I renewed my 2024 org dues in Dec '23 while I renewed for 2023 in Jan '23. For what tax year do I deduct the dues paid in Dec'23.
Thanks!
Deduct them both in the year you paid them (2023) if you are on a cash basis.
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