Open TurboTax
I issued an invoice for consultant work completed for Dec 2024 on December 20, 2024. I don't get paid until the following month so I received payment Jan 31, 2025 and then paid 30% for taxes to CRA. Can I claim that tax payment as it was related to 2024 income? The same would go for the associated HST that I had to pay at the time.
You will report that income for 2025 rather than 2024 since the payment was received in that year.
Thank you for choosing TurboTax.
user17607557653
New Member
charbonaparte
New Member
davidafarkas10
Level 1
zion-corp
New Member
bgsmith_2000
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.