In which year is this taxable?

[seriousthistime]

My pension and SS payments are direct-deposited into my checking account.

My bank uses early direct deposit, so I usually get those payments credited to my account a few days early.

I'm trying to calculate my taxable income for 2022.  I have online access to all of the sources of that income.  I'm trying to figure out whether the payments that would normally be paid on January 1, but will likely be paid early, are considered 2022 income or 2023 income. 

Does anyone know?

[TheOtherMe]

My pension works like that.  My 1099-R always shows 12 payments.

My parents' pensions worked like that, too and their 1099-R always showed 12 payments.

[NoNamePerson]

Nov 27, 2022 10:06:54 GMT -5 seriousthistime said:

My pension and SS payments are direct-deposited into my checking account.

My bank uses early direct deposit, so I usually get those payments credited to my account a few days early.

I'm trying to calculate my taxable income for 2022.  I have online access to all of the sources of that income.  I'm trying to figure out whether the payments that would normally be paid on January 1, but will likely be paid early, are considered 2022 income or 2023 income. 

Does anyone know?

Calculate using 12 payments for SS and Pension

Then calculate using 13 payment for SS and Pension

You will be a little off either way but not by much but you have a figure to work with either way. 

[haapai]

I can see how this matters if your social security or pension payments change in size during the year or if they have just begun. 

If you received social security or pension benefits in a prior year you may be able to solve this question by looking up your bank records.  Usually, things get a bit wonky at the end of the year and the banking system slows down tremendously.  It is possible that even though you usually get these payments a day early, that never happens in the month of December. 

[TheOtherMe]

It does happen in December.  I put that early payment in to the year for which it was intended, ie 2023