### Question
What does ordinary income mean?


### Answer
**Ordinary income** has the following meaning in *26 U.S.C. § 4982*:

> the investment company taxable income (as defined in section 852(b)(2)) determined—



(A) without regard to subparagraphs (A) and (D) of section 852(b)(2),



(B) by not taking into account any gain or loss from the sale or exchange of a capital asset, and



(C) by treating the 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**

