Post-completion-year income.
(3) Post-completion-year income. If a taxpayer has not included the total contract price in gross income by the completion year, as defined in 1.460-1(b)(6), the taxpayer must include the remaining portion of the total contract price in gross income for the taxable year following the completion year. For the treatment of post-completion-year costs, see paragraph (b)(5)(v) of this section. See 1.460-6(c)(1)(ii) for application of the look-back method as a result of adjustments to total contract price.