26 U.S.C. § 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).
Notes of Decisions
Cited in 2
cases, 1928–2018 · leading case: Allen v. United States, 331 F. Supp. 3d 852 (E.D. Wis. 2018).
Allen v. United States, 331 F. Supp. 3d 852 (E.D. Wis. 2018). “" 26 U.S.C. § 64 . Section 1231(b) identifies certain types of property used in a trade or business-including certain livestock.”
Smiler v. United States, 24 F.2d 22 (5th Cir. 1928). “26 [26 USCA § 64; Comp. St. § 5889]), making it a criminal offense for such officer or agent to demand or accept any sum of money or other thing of value for the compromise, adjustment, or settlement of any eharge or complaint for a violation or alleged violation of law, except,…”
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