foreign currency gain
Defined in 1 place of the United States Code.
The term “foreign currency gain” means any gain from a section 988 transaction to the extent such gain does not exceed gain realized by reason of changes in exchange rates on or after the booking date and before the payment date.
Source
- 1994–present26 U.S.C. § 988Internal Revenue Code · Treatment of certain foreign currency transactions · for purposes of this section