Series 52: 6.3.4. Ordinary Income Vs. Capital Gains

Taken from our Series 52 Online Guide

6.3.4. Ordinary Income vs. Capital Gains

Adjusted cost basis is applied for tax purposes to determine whether profits from a sale must be classified as capital gains or ordinary income. Capital gains are the amount of profit obtained by selling a capital asset at a price above its “purchase price,” as measured by its adjusted cost basis. Ordinary income is any income that is not a capital gain.

Ordinary income includes earned income, dividends, and earned interest. With respect to municipal bonds, it also includes profits gaine

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