Except as otherwise provided in this part, on the sale or exchange of property the entire amount of the gain or loss, determined under Section 24901, shall be recognized.
Cal. Rev. & Tax. Code § 24902
Computation of Gain or Loss
Added by Stats. 1955, Ch. 938.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.