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March 18, 2026The Accounting Review

The Sale as a Test of Income Realization.

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Authors

FCFranklin H. Cook

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Implication

This examination addresses income realization timing in sales of personal and real property, indicating implications for taxation.

Key Points

  • The aim is to analyze when income is considered realized upon the sale of property for tax purposes.
  • Review of reported cases from Federal Courts and the Board of Tax Appeals
  • Examination of legal principles applicable to personal and real property sales
  • Comparison of income realization based on contract signing and title passage
  • Determined that income realization can differ based on whether a contract is signed or title legally passes
  • Identified distinctions in principles for personal versus real property sales
  • Discussed the implications for federal income taxation in deferred payment and installment sales

Cite This Study

Franklin H. Cook (1939) studied this question.

synapsesocial.com/papers/69ba43f74e9516ffd37a5a88https://doi.org/10.2308/tar-7062583
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1TESTS OF INCOME REALIZATION.1941
  2. 2REALIZED INCOME.1929
  3. 3LEGAL BACKGROUND FOR THE ACCOUNTING CONCEPT OF REALIZATION.1963
  4. 4INSTALLMENT SALES OF REAL ESTATE.1926
  5. 5ACCOUNTING PRINCIPLES AND TAXABLE INCOME.1962