### Question
How does Inventories define dealer in securities?


### Answer
Under *26 U.S.C. § 475*, **dealer in securities** is defined as:

> a taxpayer who—



(A) regularly purchases securities from or sells securities to customers in the ordinary course of a trade or business

#### Citation:
  - *26 U.S.C. § 475*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart D-Inventories**

