Rachel paid $1,000 for supplies in 2015.In 2016,the vendor finds a $200 mistake on the invoice and refunds the overpayment to Rachel.Which of the following doctrines or concepts is the least helpful in determining how the 2016 transaction should be reported for tax purposes?

Question

Quizplus · Accepted Answer

The assignment of income doctrine is not relevant to this situation because Rachel is only receiving a refund of an overpayment, not receiving income in a different form or from a different source. The other doctrines may be relevant in determining when and how the refund should be reported for tax purposes.

Rachel Paid $1,000 for Supplies in 2015