Assertion: fund's shareholder | /r/CapableOf | elect to recognize gain
Facets:
value: each year
type: TEMPORAL
value: on the shares
type: LOCATION
Source sentences:
text: A shareholder of a PFIC may also elect each year to recognize gain or loss on the shares as if he, she or it had sold the PFIC shares at fair market value, although gains are taxed as ordinary income.