Investment and Business Income
Other Major Sources of Gross Income
Gross income includes earnings from investments and business activities. Taxpayers may receive income from interest, dividends, rental property, partnerships, sole proprietorships, and investments.
- Interest income.
- Dividend income.
- Business profits.
- Rental income.
- Royalty income.
- Partnership and S corporation pass-through income.
Tip
Always determine whether the taxpayer has complete access to the income before deciding whether it should be recognized.
Summary
Investment and business activities produce many types of taxable gross income.