ObjectivityIncarnate

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Joined 6 months ago
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Cake day: March 22nd, 2024

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  • You left out some pretty important context in that quote to make it seem like it’s saying that realization is arbitrarily decided. In truth, all this is saying is that realization is not confined to reception of cash itself:

    While it is true that economic gain is not always taxable as income, it is settled that the realization of gain need not be in cash derived from the sale of an asset. Gain may occur as a result of exchange of property, payment of the taxpayer’s indebtedness, relief from a liability, or other profit realized from the completion of a transaction.

    As it says at the end there, the ways to realize gain all necessarily entail “profit”. A loan is not profit, nor is an already-owned asset transform into profit when used as collateral.

    The above could absolutely not be used to support your argument, nor refute mine–not when you read it honestly and in context.