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FINDLAW LEGAL DICTIONARY

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Gain

gain n

1 : an increase in value, capital, or amount compare loss

capital gain
: a gain realized on the sale or exchange of a capital asset (as a stock or real estate)

ca·su·al·ty gain
: a gain realized by an insured because property insurance benefits paid for a loss from a casualty or theft are greater than the adjusted value of the insured asset

long-term capital gain
: a capital gain realized on the sale or exchange of an asset held for more than a specified period (as a year)

ordinary gain
: a gain from the exchange or sale of an asset that is not capital

short-term capital gain
: a capital gain realized on the sale or exchange of an asset held for less than a specified period (as a year) that is treated as ordinary income under federal income tax laws
2
pl

in the civil law of Louisiana
: a class of community property that reflects the increase in property value contributed by the common skill or labor of the spouses
gain vb



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.