### Question
How is the term profit defined?


### Answer
The term **profit** is defined in *22 U.S.C. § 4341* as the following:

> any proceeds (including cash and other valuable consideration but not including amounts of such proceeds given as charitable contributions) for the sale, disposition, or assignment of personal property in excess of the basis for such property

#### Citation:
  - *22 U.S.C. § 4341*
  - Heading: **CHAPTER 53A-DISPOSITION OF PERSONAL PROPERTY ABROAD**

