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Cash Basis Grant Income Taxed when received?

codeblue123
Level 3

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

Cash Basis means it is income when received.

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TaxGuyBill
Level 15

Cash Basis means it is income when received.