Date of Download: Sep 14, 2001

USCA (United States Code Annotated)

26 USCA S 64

Copr. © West 2001 No Claim to Orig. U.S. Govt. Works

_____________________________________________________________

26 U.S.C.A. § 64 I.R.C. § 64

UNITED STATES CODE ANNOTATED

TITLE 26. INTERNAL REVENUE CODE

SUBTITLE A--INCOME TAXES

CHAPTER 1--NORMAL TAXES AND SURTAXES

SUBCHAPTER B--COMPUTATION OF TAXABLE INCOME

PART I--DEFINITION OF GROSS INCOME, ADJUSTED GROSS INCOME, TAXABLE INCOME,

ETC.

Copr. © West Group 2001. No claim to Orig. U.S. Govt. Works.

Current through P.L. 107-11, approved 5-28-01

§ 64. Ordinary income defined

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).

CREDIT(S)

1988 Main Volume

(Added Pub.L. 94-455, Title XIX, § 1901(a) (10), Oct. 4, 1976, 90 Stat. 1765.)