codeblue123
Level 3
01-07-2022
04:47 PM
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Cash basis corporation received $15,000 grant income in prepayment for future services in the next tax year. Should this grant income be taxed when received or when expenses/services are rendered in the next year?
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TaxGuyBill
Level 15
01-07-2022
05:42 PM
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Cash Basis means it is income when received.