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Level 1
posted Mar 16, 2024 5:20:31 PM

Instalment Payment for 2023 Paid in 2024 - What to Enter

What do I enter if I paid my 2023 instalment payments late (i.e., paid zero in 2023, paid in full in 2024)?

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2 Best answers
Moderator
Mar 16, 2024 5:29:07 PM

If the payments were for 2023, you would just enter them as installments, even if they were paid late in 2024.

Moderator
Mar 16, 2024 5:39:54 PM

If the instalments are for 2024, then you would enter them on your 2024 return.

3 Replies
Moderator
Mar 16, 2024 5:29:07 PM

If the payments were for 2023, you would just enter them as installments, even if they were paid late in 2024.

Level 1
Mar 16, 2024 5:33:07 PM

Thank you. I have also paid instalment payments due this year (March and June). Would I enter this payment amount in next year's 2024 tax return or include them in this year's 2023 return?

Moderator
Mar 16, 2024 5:39:54 PM

If the instalments are for 2024, then you would enter them on your 2024 return.