capital gain
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 287 U.S. 103 - Burnet v. Harmel · 1932Most cited · 1,933 citing opinions
taxable gain from the sale or exchange of capital assets consummated after December 31, 1921." By § 208 (a) (8) " capital assets " means property held by the taxpayer for more than two years but does not include property " which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale in the course of his trade or business." Related provisions of the sectio