Mr. Stern, a cash basis taxpayer, was notified by his bank that he earned $1,193 of interest on his savings account in 2019. Mr. Stern has not withdrawn any funds from this account for eight years and did not receive the notification until January 26, 2020. Mr. Stern does not recognize the interest as income in 2019.
Answer the following statement true (T) or false (F)
False
He must recognize the interest as income in 2019 under the doctrine of constructive receipt.
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Indicate whether the statement is true or false
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