Ordinary assets refer to the following types of property:
- Stock in trade;
- Other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year;
- Property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business;
- Property used in the trade or business or a character which is subject to the allowance for depreciation;
- Property used in trade or business of the taxpayer.