Have a Tax Question? Ask a Tax Expert
Based on my understanding of Revenue Procedure 2004-34 I would say that the remaining amount should be included in the short taxable year. (Section 5.02(2))
Note that Section 5.02(2) states that if the short taxable year is less than 92 days then the remaining amount to be recognized must be recognized in the short taxable year so long as it is recognized for book purposes.
Again, this is my understanding given the facts provided. If the income was not earned in 2014 for GAAP or book purposes then the answer could potentially be different.