Examlex
Among the many weaknesses of the First Crusaders' army was their lack of what?
Recognized Gain
The portion of a capital gain that must be reported as income for tax purposes.
Excluded Gain
Profit from the sale of an asset that can be exempt from taxes, often related to home sales under specific Internal Revenue Code sections.
Recognized Gain
The portion of a capital gain on which taxes must be paid, typically realized when an asset is sold for more than its purchase price.
Adjusted Basis
The original cost of a property plus improvements and minus depreciation or damages, used to calculate capital gains or losses.
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