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LSDefine

Simple English definitions for legal terms

gain

Read a random definition: freight absorption

A quick definition of gain:

Gain means getting more of something, like more money or more value. It can also mean making a profit by selling something for more than it cost to make or buy. Sometimes people do bad things to get gain, like committing a crime for money. In taxes, gain is the extra money you make when you sell something for more than you paid for it.

A more thorough explanation:

Gain refers to an increase in amount, degree, or value. It can be a gain of money or something that has monetary value. It can also refer to excess of receipts over expenditures or sale price over cost. In tax, it is the excess of the amount realized from a sale or other disposition of property over the property's adjusted value.

  • A person invests $100 in a stock and sells it for $150. The gain is $50.
  • A thief steals a car and sells it for $10,000. The gain is $10,000.
  • A company sells a product for $500 that cost $400 to produce. The gain is $100.
  • A person sells a house for $300,000 that they bought for $250,000. The gain is $50,000.

These examples illustrate how gain can refer to an increase in monetary value or excess of receipts over expenditures or sale price over cost. In each example, there is a difference between the amount spent or invested and the amount received, which is the gain.

gager del ley | gainage

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triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
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