# 26 U.S.C. § 64: Ordinary income defined

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s64>. Cite pinpoints as 26 U.S.C. § 64(a)(1).

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).

## Leading cases

- [YA Global Investments v. Commissioner (T.C. 2023)](https://www.courtlistener.com/opinion/9441210/ya-global-investments-lp-fka-cornell-capital-partners-lp-yorkville/)

## Connections

Cites: § 1231 Property used in the trade or business and involuntary conversions

Cited by: none

## Amendments

- 1976-10-04: [Pub. L. 94-455](/26/act/94-455.md), 90 Stat. 1765