
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC64]

 
                     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.
 
Sec. 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, Sec. 1901(a)(10), Oct. 4, 1976, 90 
Stat. 1765.)
