26 U.S.C. 64: Ordinary income definedText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 26-INTERNAL REVENUE CODECHAPTER 1-NORMAL TAXES AND SURTAXES
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§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).
(Added Pub. L. 94–455, title XIX, § 1901(a)(10) , Oct. 4, 1976 , 90 Stat. 1765 .)