ordinary income


ordinary income
ordinary income n: income that does not derive from the exchange or sale of capital assets or property used in one's trade or business and that for individuals includes compensation, interest, dividends, and short-term capital gains

Merriam-Webster’s Dictionary of Law. . 1996.

ordinary income
n.
Earnings from work or business as opposed to income from investments.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

Look at other dictionaries:

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  • ordinary — or·di·nary adj: of a kind to be expected from the average person or in the normal course of events; broadly: of a common kind or degree an ordinary proceeding compare extraordinary Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • income — in·come n: a gain or recurrent benefit usu. measured in money that derives from capital or labor; also: the amount of such gain received in a period of time an income of $20,000 a year Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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  • ordinary — 1. noun At common law, one who had exempt and immediate jurisdiction in causes ecclesiastical. Also a bishop; and an archbishop is the ordinary of the whole province, to visit and receive appeals from inferior jurisdictions. Also a commissary or… …   Black's law dictionary


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