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-   -   Security Deposit and First Week Deposit? (https://www.daycare.com/forum/showthread.php?t=92781)

Reimel61 12-31-2019 08:27 AM

Security Deposit and First Week Deposit?
 
I contracted with a family in November 2019 for start in February 2020. i have already received payment for the security deposit and the first week tuition. What year do I claim this? 2019 or 2020? Thanks.

TomCopeland 12-31-2019 11:33 AM

when to deposit income?
 
Quote:

Originally Posted by Reimel61 (Post 712544)
I contracted with a family in November 2019 for start in February 2020. i have already received payment for the security deposit and the first week tuition. What year do I claim this? 2019 or 2020? Thanks.

2019. Report income in the year you receive it, not the year you earned it. See my article on this: http://tomcopelandblog.com/when-do-you-report-income-3


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