Internal Revenue Code:Sec. 65. Ordinary loss defined

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Contents


Location in Internal Revenue Code


     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.

Statute

    Sec. 65. Ordinary loss defined
 
      For purposes of this subtitle, the term ''ordinary loss''
    includes any loss from the sale or exchange of property which is
    not a capital asset.  Any loss from the sale or exchange of
    property which is treated or considered, under other provisions of
    this subtitle, as ''ordinary loss'' shall be treated as loss from
    the sale or exchange of property which is not a capital asset.

Sources

    (Added Pub. L. 94-455, title XIX, Sec. 1901(a)(11), Oct. 4, 1976,
    90 Stat. 1765.)
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