Document Type

Article

Publication Date

1-1-1997

Abstract

The Internal Revenue Code generally taxes appreciation in the value of property only on realization, defined to mean when property is sold or exchanged. In measuring gain on a sale or exchange, an allowance must be made for the return of capital, referred to as basis. Basis offsets the amount realized-that is, the price received for property-in order to calculate taxable gain.

Publication Citation

Stephen B. Cohen, Apportioning Basis: Partial Sales, Bargain Sales and the Realization Principle, 34 San Diego L. Rev. 1693 (1997)

Included in

Tax Law Commons

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