FEDERAL · 26 U.S.C. · Chapter Subchapter B—Computation of Taxable Income
Ordinary income defined
26 U.S.C. § 64
This text of 26 U.S.C. § 64 (Ordinary income defined) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 64.
Text
For purposes of this subtitle, the term "ordinary income" includes any gain from the sale or exchange of property which is neither a capital asset nor property described in section 1231(b). Any gain from the sale or exchange of property which is treated or considered, under other provisions of this subtitle, as "ordinary income" shall be treated as gain from the sale or exchange of property which is neither a capital asset nor property described in section 1231(b).
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Related
Smiler v. United States
24 F.2d 22 (Fifth Circuit, 1928)
Allen v. United States
331 F. Supp. 3d 852 (E.D. Wisconsin, 2018)
Source Credit
History
(Added Pub. L. 94–455, title XIX, §1901(a)(10), Oct. 4, 1976, 90 Stat. 1765.)
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Bluebook (online)
26 U.S.C. § 64, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/64.