Net Capital Gain definition

Net Capital Gain means the amount by which the sum of long-term capital gains and short-term capital gains on a claimant's, estate's, or trust's transactions from exchanges made for a taxable year of one form of legal tender for another form of legal tender exceeds the sum of long-term capital losses and short-term capital losses on those transactions for that taxable year.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Net Capital Gain means income chargeable to tax under section 3(2)(f) reduced in accordance with section 15(8);

Net Capital Gain means the amount to be determined in terms of paragraph 8; ‘personal-use asset’ means an asset contemplated in paragraph 53;

Examples of Net Capital Gain in a sentence

Trust other than Net Capital Gain for purposes of Section 852 of the Code.
For this purpose, “Excess Allocations” mean the excess of the Tax Net Capital Gain allocated under Subsection 3(a) to holders of SCUs or S-SCUs, and holders of Common Units received on a conversion or redemption of SCUs or S-SCUs in connection with allocations of Net Capital Gain under Subsection 1(c) over the Special Tax Distribution made to such Partners.
A separate Tax Account shall be established and maintained for each Partner solely for the purpose of determining such Partner’s share of any Net Income, Net Loss, Capital Gain, Capital Loss, Net Capital Gain or Net Capital Loss derived by the Fund in any Fiscal Period.
The Partnership shall maintain a single Partnership Capital Loss Account which shall be credited each Year with the amount of Net Capital Loss allocated pursuant to Section 5.1(b) hereof and which shall be debited each Year with the amount of Net Capital Gain allocated pursuant to Section 5.2 hereof.
Notwithstanding any provision of this Article V to the contrary, in no event shall less than one percent (1%) of the Partnership's Net Operating Profit or Net Operating Loss for the Year and Net Capital Gain or Net Capital Loss for the Year be allocated to the General Partner.

More Definitions of Net Capital Gain

Net Capital Gain has the meaning set forth in IRC Section 1222.

Net Capital Gain means, for any taxable year, the excess of recognized gains with respect to dispositions of Property over recognized losses with respect to dispositions of Property, in each case as determined by reference to Gross Asset Value.

Net Capital Gain means, for the relevant period, an amount equal to the quotient obtained by dividing (i) the net capital gain (as defined in Section 1222(11) of the Code) that is allocable to TCO for such period, by (ii) the Percentage Interest of TCO on the Relevant Date.

Net Capital Gain has the meaning set forth in Code Section 1222.

Net Capital Gain means the amount to be determined in terms of paragraph 8;

Net Capital Gain means, with respect to any Tax Year, the sum of (i) any net capital gain (i.e., net long-term capital gain over net short-term capital loss) and (ii) any dividend income that is treated as net capital gain under Section 1(h)(11) of the Code or for California income tax purposes, of the Borrower that is allocated (or otherwise flows through) to the Ultimate Members for tax purposes for such Tax Year.

Net Capital Gain means "net capital