Tweet
Tom,
I receive payments from MN state for a child care family.
I provided services in Dec 2012.
The state paid me for these services on January 3, 2013.
I recorded this amount in MMK accordingly.
I received my 1099 from MN state and the total amount paid was different from my records. I went over my records several times trying to figure out where the difference was. I found it and see that it was the amount they paid me on January 3, 2013.
According to them, the billing says payment was "prepared" on December 31, 2012 and ISSUED on January 3, 2013.
I am confused as to how I should handle this.
According to my records now that I entered into MMK, that income was received in 2013 and will be accounted for in that year when I do my taxes but according to the 1099 I received from the state, that income will be accounted for in 2012.
How do I handle this so that my account of what was paid and the state's account of what was paid to me match?
I receive payments from MN state for a child care family.
I provided services in Dec 2012.
The state paid me for these services on January 3, 2013.
I recorded this amount in MMK accordingly.
I received my 1099 from MN state and the total amount paid was different from my records. I went over my records several times trying to figure out where the difference was. I found it and see that it was the amount they paid me on January 3, 2013.
According to them, the billing says payment was "prepared" on December 31, 2012 and ISSUED on January 3, 2013.
I am confused as to how I should handle this.
According to my records now that I entered into MMK, that income was received in 2013 and will be accounted for in that year when I do my taxes but according to the 1099 I received from the state, that income will be accounted for in 2012.
How do I handle this so that my account of what was paid and the state's account of what was paid to me match?
Comment