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Question

I sold a Taylor Swift ticket on StubHub in December 2022, but I won't receive the money from my sale until May 2023 due to StubHub rules. Which tax year will this income apply to?

AI accountant’s answer:

Since you're likely using cash-basis accounting, you'll report the income in the year you receive it. So, if you receive the money from your ticket sale in May 2023, you'll report this income on your 2023 tax return, which you'll file in 2024.

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