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

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“Constructive receipt.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/constructive%20receipt. Accessed 18 Sep. 2020.

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