### Question
How is the term capital gain net income defined?


### Answer
The term **capital gain net income** is defined in *26 U.S.C. § 4982* as the following:

> given such term by section 1222(9) (determined by treating the 1-year period ending on October 31 of any calendar year as the company's taxable year).

#### Citation:
  - *26 U.S.C. § 4982*
  - Heading: **Subtitle D-Miscellaneous Excise Taxes > CHAPTER 44-QUALIFIED INVESTMENT ENTITIES**

