Gain
In one sentence: The amount by which proceeds exceed basis on a sale or exchange.
What it means
Gains can be ordinary, capital, or §1231 — and the character affects both the tax rate and how the gain interacts with losses.
In one sentence: The amount by which proceeds exceed basis on a sale or exchange.
Gains can be ordinary, capital, or §1231 — and the character affects both the tax rate and how the gain interacts with losses.