Investment and Property Income
Income from Investments
Many taxpayers earn income from investments rather than employment. Interest, dividends, rental income, royalties, and gains from selling property are generally included in gross income. Some investments receive favorable tax treatment, but they are still part of the gross income analysis.
Tip
Keep records of purchase prices, sales proceeds, and expenses because they help determine taxable gains.
Summary
Income generated by investments and property ownership is generally included in gross income.