Message Font: Serif | Sans-Serif
No. of Recommendations: 1
If the trip doesn't happen, why not amend 2011 to remove the deduction?

Because whatever Congress, approved by whatever President, is the Mommie, and Mommie said so. See "Recoveries" in Pub 525 for the income side. There's no doubt publication coverage of accounting methods somewhere, but as Ira said, for a cash-basis taxpayer, you take the deduction in the year you paid or charged it.

Rule Your Retirement Home Fool
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.