taxable gain
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 309 U.S. 461 - Helvering v. Bruun · 1940Most cited · 294 citing opinions
It is not necessary to recognition of taxable gain that he should be able to sever the improvement begetting the gain from his original capital. If that were necessary, no income could arise from the exchange of property; whereas such gain has always been recognized as realized taxable gain.