Amount Realized

Amount Realized is defined by § 1001(b) of Internal Revenue Code, and is one of two variables in the formula used to compute gains and losses when determining gross income for tax purposes. The Amount Realized – Adjusted Basis tells the amount of Realized Gain (if positive) or Realized Loss (if negative).

Computation of gain and loss is governed by § 1001(a) of the Internal Revenue Code.

Read more about Amount RealizedStatutory Definition, Calculating Amount Realized, Impact

Other articles related to "realized, amount realized, amount":

Commissioner V. Tufts - Opinion
... The Court began by noting that all gains or losses on the disposition of property must be realized, under section 1001(a) of the Internal Revenue Code ... The definition for “amount realized,” found in 1001(b), states “the amount realized from the sale or other disposition of property shall be the sum of any money received plus the fair market ... Commissioner specifically that a taxpayer must incorporate the amount of mortgage debt liability transferred when calculating “amount realized” in a property ...
Nonrecourse Debt - Tax Consequences of Disposition of Property Encumbered By Non-recourse Debt - Basic Concept: Computing Gain or Loss On A Disposition
... Generally, the amount realized is the amount of cash and other consideration received by the taxpayer ... The amount of any loan forgiven or discharged is generally part of that consideration ... adjusted basis is the sum of the following the amount of the original cost incurred by the taxpayer when the property was acquired, including the amount of any non-recours ...
Warren Jones Co. V. Commissioner Of Internal Revenue - Significance
... affects taxpayers using the cash method of accounting in regards to determining the amount realized in a deferred payment sale where taxpayers have opted not to use the ... despite having the ability to reasonably determine the amount realized from a deferred payment sale? Can the taxpayer defer the recognition of gain in this instance? Presumably not, since “the ... Warren Jones holds that for taxpayers using the cash method accounting then, the entire amount realized “would be the fair market value of the installment obligation.” ...
Amount Realized - Impact
... According to Burke and Friel, there are policy arguments to be made for and against taxing appreciation ... If Congress did choose to tax appreciation, taxpayers' tax income would likely match their economic income "it would thus tend to place on the same tax footing persons who are economically similarly situated." However, the current system allows the IRS a degree of "administrative convenience." Moreover, it is arguably unfair to treat unrealized gains as income where the taxpayer may not have the appropriate funds to cover the tax liability, presumably forcing the taxpayer to sell the asset in question simply to pay the tax resulting from it ...
Warren Jones Co. V. Commissioner Of Internal Revenue - Background
... disagreed with the taxpayer’s claim that it had not realized any gain on the sale, but conceded that the sale qualified as an installment sale ... fair market value of its real estate contract with the Storeys for determining the “amount realized” during the taxable year of the sale ... doctrine, held that the fair market value of the contract was not includable in the amount realized from the sale ...

Famous quotes containing the words realized and/or amount:

    I came here to take my son home and I realized he already is home.
    Robert Benton (b. 1932)

    Excess of joy is harder to bear than any amount of sorrow.
    Honoré De Balzac (1799–1850)