Hillary is a cash-basis calendar-year taxpayer. During the last week of December she received a letter containing a $5,000 check for services. Which of the following is a true statement? A. Hillary is taxed on the $5,000 of service income in the year she cashes the check. B. Hillary is taxed on the $5,000 of service income in the year the check was mailed. C. Hillary is taxed on the $5,000 of service income in the year she receives the check. D. Hillary is taxed on the $5,000 of service income in the year she provides the services. E. None of these is true.
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