[nq:1]I am sure this has already been discussed, but I was only able to find one thread with two posts ... function of a noun > gerund verbs in the ~ing form with the function of an adjective > present participle[/nq] Usually, in English grammar, "am running" is classified as a compound tense (called the present continuous or some such thing). Historically, AFAIK, "running" got into that construction as a gerund ("am a running", with "a" a preposition = "on"), but one could imagine it also arising out of a predication of the participle, and getting that right or wrong will not help you in using the present continuous tense correctly.
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.