To whom do the doctrines of constructive receipt and claim of right apply?
A)Cash basis taxpayers only
B)Accrual basis taxpayers only
C)Cash basis, accrual basis, respectively
D)Accrual basis, cash basis, respectively

Question

Quizplus · Accepted Answer

The doctrine of constructive receipt applies to cash basis taxpayers, indicating that income is taxable when it is actually or constructively received. The claim of right doctrine applies to accrual basis taxpayers, stating that income is recognized when it is earned, regardless of when it is received.

To Whom Do the Doctrines of Constructive Receipt and Claim