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Answers are provided by Robert S. Kaufman
Income Tax Based on a Cash Basis
(Posted November 16, 2014)
Question 1220: Is a December 2013 benefit payment that is received in January 2014 treated as income for 2013, or for 2014?
Railroad Retirement payments for the year are based on what you receive in the tax year. In the example that you cited in your question, the payment made in January 2014 for the month of December 2013 is credited to the 2014 tax year.
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