MLchartDataset catalogue

Realization of gain

Term · Law · MLC-T-LAW-004123

The event when an asset is sold or exchanged for an amount greater than its adjusted basis, resulting in a taxable profit. This gain is typically recognized for tax purposes in the year the transaction occurs. The Internal Revenue Code dictates how different types of gains, such as short-term or long-term capital gains, are taxed.

Table 1. Record
IdentifierMLC-T-LAW-004123
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004123",
  "term": "Realization of gain",
  "field": "Law",
  "definition": "The event when an asset is sold or exchanged for an amount greater than its adjusted basis, resulting in a taxable profit. This gain is typically recognized for tax purposes in the year the transaction occurs. The Internal Revenue Code dictates how different types of gains, such as short-term or long-term capital gains, are taxed.",
  "url": "https://mlchart.com/terminology/law/realization-of-gain/"
}

Record 4,178 of 5,445 in Law terminology (MLC-0107). Request the full dataset.