ordinary income definition

ordinary income

Business: Income from the normal day to day operations of the firm, and which specifically excludes income from sale of capital assets.

Personal: Income such as salary, interest, dividends, rents, etc., that is subject to income taxes at ordinary (full) rates and not on favorable (lower) capital gains rate.

ordinary income is in the Accounting & Auditing subject.

ordinary income appears in the definition of the following term: capital transaction

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