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recognized gain |
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recognized gain That portion of a sale profit that is taxable.When a person has a gain on the sale of property,it is said the person realizes gain. Under certain beneficial tax provisions,the seller may not have to pay taxes because the gain is not recognized at that time—the IRS chooses to ignore it for one reason or another.Normally,all gain is recognized unless it falls within one of the exceptions allowing deferral until a later date,such as a 1031 exchange, or excluded completely,such as sale of a principal residence for less than the ceiling amount of gain.How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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