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Forum
-> Household Management
-> Finances
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amother
Tangerine
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 Tue, Feb 14 2017, 11:10 am
I was looking through my invoices and payments for childcare to file taxes and I see that I didn't pay $3000 in 2016, but I was billed for a full 3k, I just didn't pay it until 2017. Can I claim the full 3k, or only the portion that was actually paid during the tax year?
Thanks!
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groovy1224
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Tue, Feb 14 2017, 11:13 am
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Assuming you use cash basis accounting (which most tax payers do), then you can only report the amount paid, not the amount billed.
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amother
Tangerine
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Tue, Feb 14 2017, 11:17 am
Thanks
That's too bad because I totally would have gotten caught up if I knew that. My expenses in 2017 will exceed 3k by a lot, so I can't even say, well, I'll save that much more next year...
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