Ordinary income is
I.the common type of income that individuals and businesses earn.
II.receives no special treatment under tax laws.
III.the character of the gain from the sales of shares of stock held more than one year

Question

Ordinary income is
I.the common type of income that individuals and businesses earn.
II.receives no special treatment under tax laws.
III.the character of the gain from the sales of shares of stock held more than one year
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Quizplus · Accepted Answer

Ordinary income is indeed the most common type of income that individuals and businesses earn, such as wages, salaries, commissions, and interest income from bonds. It does not receive special treatment under tax laws, meaning it is taxed at standard rates. The gain from the sale of shares of stock held for more than one year is typically considered a long-term capital gain, not ordinary income, and is subject to different tax rates.

Ordinary Income Is I.the Common Type of Income That Individuals and Businesses Earn