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Louisiana Revised Statutes — Title 47 (Revenue and Taxation)

La. R.S. 47:131

Determination of amount of, and recognition of, gain or loss

Official textlegis.la.gov

# A.

Computation of gain or loss. The gain from the sale or other disposition of property shall be the excess of the amount realized therefrom over the adjusted basis provided in R.S. 47:139 for determining gain, and the loss shall be the excess of the adjusted basis provided in such section for determining loss over the amount realized.

# B.

Amount realized. The amount realized from the sale or other disposition of property shall be the sum of any money received plus the fair market value of property (other than money) received.

# C.

Recognition of gain or loss. In the case of a sale or exchange, the extent to which the gain or loss determined under this Section shall be recognized for the purpose of this Chapter, shall be determined under the provisions of R.S. 47:132 through 47:138.

# D.

Installment sales. Nothing in this Section shall be construed to prevent (in the case of property sold under contract providing for payments in installments) the taxation of that portion of any installment payment representing gain or profit in the year in which such payment is received.

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In this chapter (37 sections)
  1. 47:131 · Determination of amount of, and recognition of, gain or loss
  2. 47:132 · Recognition of gain or loss; general rule
  3. 47:133 · Recognition of gain or loss; exchanges solely in kind
  4. 47:134 · Receipt of additional consideration
  5. 47:135 · Exclusion from income; property received in certain corporate…
  6. 47:136 · Recognition of gain or loss; involuntary conversions
  7. 47:137 · Recognition of gain or loss; certain liquidations; sales or…
  8. 47:138 · Definitions relating to corporate reorganizations
  9. 47:139 · Adjusted basis for determining gain or loss
  10. 47:140 · Unadjusted basis; in general
  11. 47:141 · Unadjusted basis; inventories
  12. 47:142 · Unadjusted basis; gifts after December 31, 1933
  13. 47:143 · Unadjusted basis; transfer in trust after December 31, 1933
  14. 47:144 · Unadjusted basis; gift or transfer in trust before January 1,…
  15. 47:145 · Unadjusted basis; property transmitted at death
  16. 47:146 · Unadjusted basis; tax free exchanges generally
  17. 47:147 · Repealed by Acts 1958, No. 443, §1
  18. 47:148 · Basis to corporations
  19. 47:149 · Unadjusted basis; involuntary conversions
  20. 47:150 · Unadjusted basis; wash sales of stock
  21. 47:151 · Unadjusted basis; property acquired during affiliation
  22. 47:152 · Basis of property received in liquidations
  23. 47:153 · Unadjusted basis; property converted from personal use
  24. 47:154 · Repealed by Acts 1958, No. 169, §1
  25. 47:155 · Unadjusted basis; property acquired before January 1, 1934
  26. 47:156 · Adjustments in basis for determining gain or loss
  27. 47:157 · Basis for depreciation
  28. 47:158 · Basis for depletion
  29. 47:159 · Distributions by corporations
  30. 47:160 · Loss from wash sales of stock or securities
  31. 47:161 · Income from sources partly within and partly without the State…
  32. 47:162 · Fiduciary returns
  33. 47:163 · Closing by collector of taxable year
  34. 47:164 · Information required and withholding of tax at source
  35. 47:165 · Information by corporations
  36. 47:166 · Returns of brokers
  37. 47:167 · Collection of foreign items
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