Is the word reading a noun?

Answer 1

Yes, the word reading is a gerund, the present participle of the verb to read that functions as a noun. The present participle of the verb also functions as an adjective.

Examples:

I had to get glasses for reading. (noun, object of the preposition 'for')

We were reading about ancient Rome. (verb)

You need a good reading light for your desk. (adjective)

Answer 2

Yes, "reading" can function as both a noun (e.g., "I love reading") and a verb (e.g., "I am reading a book").