(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 § 30142(b) of this title 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 the property received other than money.(c) Recognition of gain or loss. — In the case of sale or exchange of property the extent to which the gain or loss determined under this section shall be recognized for purposes of this part shall be determined under § 30144 of this title.(d) Installment sales. — Nothing in this section shall be construed to prevent, in the case of property sold under contract providing for payment in installments, the taxation of that portion of any installment payment representing gain or profit in the year in which such payment is received. History —Jan. 31, 2011, No. 1, § 1034.03, retroactive to Jan. 1, 2011.