Explore BrainMass

Explore BrainMass

    Constructively Received Income

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Tax Question:

    Which of the following would be considered "constructively received?"

    i. interest credited to a savings account
    ii. a check received after banking hours
    iii. a paycheck received from employer, when employer does not have funds in the bank to cover the check

    a. I only
    b. II only
    c. III only
    d. I & II only
    e. None of above

    © BrainMass Inc. brainmass.com June 4, 2020, 3:56 am ad1c9bdddf

    Solution Preview

    I & II are both received under constructive receipt. III is not received under ...

    Solution Summary

    This solution provides the correct answer with complete explanation to the constructive income multiple choice question listed.