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recognized gain

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Realized Gain
The amount by which the sale price of an asset exceeds its purchase price. Unless the realized gain came from a tax-exempt or tax-deferred asset, it is taxable. However, the type of taxation to which it is subject varies according to how long the asset has been owned. A realized gain from an asset owned longer than one year is usually taxed at the capital gains rate, while an asset owned for a period shorter than a year is often subject to the higher income tax rate. It is also called the recognized gain. See also: Unrealized gain.

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.


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Exhibit 1: Total realized gain on liquidation in the example Cash $100,000 FMV of installment note receivable 400,000 Total liquidation proceeds 500,000 Less: stock basis (50000) Liquidation gain realized $450,000 Exhibit 2: Recognized liquidation gain in 2009 Cash liquidation proceeds $100,000 Less: allocable basis (10,000) Recognized gain 90,000 Installment note receivable 400,000 Less: allocable basis (40,000) Total gain 360,000 Proportion of principal collected x 12.
This will result in a lowering of the basis in the replacement property so when that property is sold, the taxpayer will have to pay taxes on the recognized gain that reflects profits realized on both the first and second properties.
Assets that have long-term capital gain potential but are currently in a loss position should be sold in 2000 to recognize the loss, if the loss can be used against recognized gains, and then repurchased in 2001.
 
 
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