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Pastimes : Don't Ask Rambi -- Ignore unavailable to you. Want to Upgrade?

To: Ish who wrote (37592)	9/10/1999 5:20:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 71178

If you sell your grain today, but tell them not to issue the check until January, the income is 1999, because you had the right to get the check in 1999. You probably won't get caught doing it the way you suggested, but that doesn't make it legal. You don't have receipt of the cash, but you still have control over when it's paid, so that's constructive receipt. An investment in a security is different because the tax code says it is. The classifications are somewhat arbitrary, but in the example of securities, Congress wants to encourage investment. A lottery ticket isn't an investment in a security.