- 17 - the end of petitioner’s fiscal year. Unsubstantiated testimony that the Gentrys reported the income on their 1994 calendar year returns, even if true, does not show that they treated the funds as constructively received at or prior to the end of petitioner’s fiscal year on July 31, 1994. After all, payments actually received by the Gentrys in the 5 months following the end of petitioner’s fiscal year would still be within their calendar year. Petitioner has failed to show either that the Gentrys should have included the funds in gross income by the end of petitioner’s fiscal year, or that the funds were in fact so included. Finally, petitioner’s comment implies that the constructive receipt doctrine should apply differently where the payor operates on a fiscal year. Petitioner’s notion seems to be that since petitioner’s fiscal tax year ended in the middle of the Gentrys’ calendar tax years, funds received or taken into income by the end of the calendar year should be treated as constructively received during the same “year,” and so the deduction should be allowed. There are other matching provisions in the Internal Revenue Code that do not require matching precision. See, e.g., sec. 83(h) (deduction allowed for taxable year in which ends the taxable year in which item included in gross income of person who performed services); sec. 404(a)(6) (payment deemed made onPage: Previous 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Next
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