ordinary income property

ordinary income property definition - business

ordinary income property

Property whose sale would result in ordinary income or short-term capital gains. The deduction for tax purposes of a charitable gift of ordinary income property is limited to the donor's cost basis. Ordinary income property includes inventory and short-term capital assets.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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