Section 1001 - Determination of amount of and recognition of gain or loss

1 Citing brief

  1. Children's Hospital Association of Texas et al v. Price et al

    MOTION for Summary Judgment

    Filed June 16, 2017

    To offer just one example from another complex statutory regime, the Internal Revenue Code prescribes a clear formula for calculating the proceeds, or “amount realized,” from a sale of property: the amount realized is “the sum of any money received plus the fair market value of the property (other than money) received.” 26 U.S.C. § 1001(b). But regulations and administrative and judicial interpretations specify additional adjustments to the calculation.