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5“Gain” and “loss”E+W+N.I.

(1)The references to gain and loss in sections 2 to 4 are to be read in accordance with this section.

(2)“Gain” and “loss”—

(a)extend only to gain or loss in money or other property;

(b)include any such gain or loss whether temporary or permanent;

and “property” means any property whether real or personal (including things in action and other intangible property).

(3)Gain” includes a gain by keeping what one has, as well as a gain by getting what one does not have.

(4)Loss” includes a loss by not getting what one might get, as well as a loss by parting with what one has.