constructive receipt

noun

Legal Definition of constructive receipt

: the receipt of taxable income (as interest on a savings account) that is implied by the income's ready availability to the taxpayer although it has not actually been collected

Comments on constructive receipt

What made you want to look up constructive receipt? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

one from the Upper Peninsula of Michigan

Get Word of the Day daily email!

Test Your Vocabulary

Musical Words Quiz

  • gramophone
  • Which word describes a musical performance marked by the absence of instrumental accompaniment?
How Strong Is Your Vocabulary?

Test your vocabulary with our 10-question quiz!

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!