If One Member Sells an Asset with a Realized Gain

question 134

Short Answer

If one member sells an asset with a realized gain to another member of an affiliated group, any gain on the transaction is not recognized at that time; such a deferral applies the ____________________ rule.

---

Definitions:

Illness

A state of being in poor health, typically as a result of disease, infection, or injury.

Cognitive Tendency

The inclination of individuals to think in certain patterns, often leading to biases or specific ways of processing information.

Genetic Predisposition

The increased likelihood of developing certain diseases or conditions based on an individual's genetic makeup.

Physical Health

The condition of a person's body, including the absence of disease, the proper functioning of systems, and the maintenance of fitness and well-being.