26 U.S.C. § 65
Section 65 · Ordinary loss defined
Amended 1 time on record
Applied in 2 court decisions — leading case United States v. Holmes (2013)
Most recently applied in Butts v. Comm'r (April 2015)
For purposes of this subtitle, the term “ordinary loss” includes any loss from the sale or exchange of property which is not a capital asset. Any loss from the sale or exchange of property which is treated or considered, under other provisions of this subtitle, as “ordinary loss” shall be treated as loss from the sale or exchange of property which is not a capital asset.