TaxGirl3
Level 5
04-01-2024
09:13 PM
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My client paid cash to account for existing A/R and the A/R rolled in later that year. No difference cash or accrual.
Example would be paying $140k for A/R to outgoing doc, later receive $540k from billing company, which includes the purchased $140k. The 1099 amount is for $540k.