Today I learned that "realization" is not "recognition," at which point, I lost my last grasp on understanding what is "taxable event." Nothing makes sense in federal income tax. The words in my casebook can be a random assortment of "recognizable" words that form meaning I cannot "realize." I am seriously scared. I don't think this tax stuff will come together...
In other news, "reverter" is not a "possibility of reversion." Ah, law school.
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