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2. Amount realized - Wikipedia

   en.wikipedia.org/wiki/Amount_realized

   It is one of two variables in the formula used to compute gains and losses to determine gross income for income tax purposes. The excess of the amount realized over the adjusted basis is the amount of realized gain (if positive) or realized loss (if negative). Computation of gain and loss is governed by section 1001(a) of the Code.

3. Adjusted basis - Wikipedia

   en.wikipedia.org/wiki/Adjusted_basis

   After three years his adjusted tax basis is $655,000 = $100,000 + $600,000 - (3 x $15,000). Adjusted basis 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).

4. Realization (tax) - Wikipedia

   en.wikipedia.org/wiki/Realization_(tax)

   Tax professors typically teach that it was income to Forneris when he caught it because it was treasure trove. As a result, the person who catches a home run ball would generally be required to include the value of the ball in income in the year in which the catch took place, whether or not the person sold the ball and even whether he gave it ...

5. Cost basis - Wikipedia

   en.wikipedia.org/wiki/Cost_basis

   Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation.When a property is sold, the taxpayer pays/(saves) taxes on a capital gain/(loss) that equals the amount realized on the sale minus the sold property's basis.

6. Capital Gains Tax: Definition, Rates & Calculation - AOL

   www.aol.com/finance/capital-gains-tax-definition...

   Long-Term Capital Gains Tax Examples. Filing Status. Net Capital Gains. Total Taxable Income. Capital Gains Taxes Due. Single. $20,000 (gains) - $5,000 (losses) = $15,000

7. Gain (accounting) - Wikipedia

   en.wikipedia.org/wiki/Gain_(accounting)

   The gain is unrealized until the asset is sold for cash, at which point it becomes a realized gain. This is an important distinction for tax purposes, as only realized gains are subject to tax. Gains are the result of circumstances, events, or transactions which affect the entity independent of revenue or owner investments.