Discussion:Prepaid expense - cash basis TP
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Discussion Forum Index --> Basic Tax Questions --> Prepaid expense - cash basis TP
Discussion Forum Index --> Tax Questions --> Prepaid expense - cash basis TP
| June 19, 2008 | |
| Is a cash basis taxpayer allowed to deduct a payment for services to be provided over a period of 24 months in the year of payment? Services started in the year of payment. I've looked at Reg. Sec. 1.263a and am having a hard time following it. | |
RoyDaleOne (talk|edits) said: | 19 June 2008 |
| No. 12 months is generally the limit. You want a cite? | |
Michaelstar (talk|edits) said: | 19 June 2008 |
| See Reg 1.263(a)(4) | |
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