The phrase "taxable event" refers to a specific action or occurrence that triggers a tax liability. It means that when this event happens, you may be required to pay taxes on it. Full definition
Furthermore, debts forgiven in bankruptcy are not taxable events so you won't receive a 1099 for the amount of forgiven debt. (natlbankruptcy.com)
This means fewer taxable events for shareholders, making these investment products popular among investors looking to limit tax liability. (investopedia.com)
However they didn't want to create a significant taxable event in the process. (biggerpockets.com)