Tax Law Blog
- Posts by Scott H. Hogan
ShareholderScott Hogan practices in the areas of real estate, construction, municipal and library law, business law, and bankruptcy. Specifically, this includes:
- Real Estate: Handles sales, purchases, leases, condominiums, evictions ...
Posted by: Scott H. Hogan
Section 61 of the Internal Revenue Code establishes that all income, from whatever source derived, is included in gross income. If the income arises from a sale or exchange of property that is not a capital asset or property used in a trade or business then it is taxed as ordinary income.
Categories: Income Tax
