net investment income

(1)The term “net investment income” means the excess (if any) of— (A)the sum of— (i)gross income from interest, dividends, annuities, royalties, and rents, other than such income which is derived in the ordinary course of a trade or business not described in paragraph (2), (ii)other gross income derived from a trade or business described in paragraph (2), and (iii)net gain (to the extent taken into account in computing taxable income) attributable to the disposition of property other than property held in a trade or business not described in paragraph (2), over (B)the deductions allowed by this subtitle which are properly allocable to such gross income or net gain.

Source

26 USC § 1411(c)(1)


Scoping language

For purposes of this chapter
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