Question
Gross income is defined as all income from whatever source derived. Why do we exclude unrealized gains, such as the increased value in your home
Gross income is defined as "all income from whatever source derived." Why do we exclude unrealized gains, such as the increased value in your home before it sold, in gross income? Also discuss the inclusion of income from illegal sources.
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A profit that exists on paper resulting from any type of investment An unrealized gain is a profitable position that has yet to be cashed in such as a winning stock position that remains open A gain b...
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
