26 U.S.C. § 64 (2024)
This is the official text of 26 U.S.C. § 64 (2024), part of Federal (US Code)’s United States Code — the codified general and permanent federal statutes of the United States, organized into more than 50 numbered titles by subject.
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Ordinary income defined
Official statutory 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).
(Added Pub. L. 94–455, title XIX, §1901(a)(10), Oct. 4, 1976, 90 Stat. 1765.)
(Added Pub. L. 94–455, title XIX, §1901(a)(10), Oct. 4, 1976, 90 Stat. 1765.)
Status: in_force · Read it on the official government site
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