Examlex
Which is an example of person-first language?
Recognized Gain
is the portion of a gain that is subject to taxation under the tax laws after the sale or exchange of an asset.
Basis
The original value or cost of an asset or investment for tax purposes, crucial for calculating gain or loss on disposition.
Like-Kind Exchange
A tax deferment strategy where an asset is exchanged for another similar asset, deferring capital gains taxes.
Identified
Specified or determined, often used in contexts where certain items, transactions, or options are selected for specific treatment or action.
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