Ordinary Gross Income

About Ordinary Gross Income:

Ordinary Gross Income (OGI) means gross income less any capital gains and Section 1231 gains. There are two tests to determine whether rental income is personal holding company (PHC) income. One test is satisfied if the total dividends paid for the tax year are equal to or greater than the amount by which the nonrental PHC income exceeds 10% of OGI. Former IRC (check if this IRC provision is current here) §543(b)(l).

See also Capital Gain in the American Legal Encyclopedia and Capital Gain in the World Legal Encyclopedia.

See Dividend in the American Legal Encyclopedia and Dividend in the World Legal Encyclopedia.