Questions & Answers

What should I include in gross income?

Gross income means all income you received in the form of money, goods, property, and services that isn't exempt from tax. Gross income is measured before subtracting allowable deductions. Gross income includes, but isn't limited to:

  • All income from wages, salaries, tips, interest and dividends that isn't exempt from tax
  • Self-employment income before expenses
  • Farm income before expenses
  • Rental income before expenses
  • Shareholders and partners include their share of the gross income from S corporations and partnerships
  • Unemployment compensation
  • Certain scholarship and fellowship grants
  • Gains derived from sales of property
  • Pensions and annuities
  • Taxable Social Security benefits
Scholarships used for tuition, fees, supplies, books, and equipment required for courses leading to a degree aren't included in gross income.

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