Examlex
Find the equation of any horizontal asymptote.
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Deferred Gain
A profit from the sale of property or an investment that has been realized but not recognized for tax purposes in the current period.
IRC Section 121
A provision in the Internal Revenue Code that allows homeowners to exclude up to $250,000 ($500,000 if married filing jointly) of capital gains on the sale of their primary residence, subject to certain conditions.
Receipt of Boot
Tax term referring to non-like-kind property or cash received in an exchange, which may trigger taxable gain.
Like-kind Exchange
A tax-deferred exchange of similar properties under section 1031 of the U.S. Tax Code.
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