Gross Income — Inclusions and Exclusions

Free CPA REG (Taxation & Regulation) lesson in Federal Taxation of Individuals. 19 min read, ~2,904 words.

Section 61: gross income is all income from whatever source derived unless a specific Code section excludes it. Default is "yes, taxable.". Constructive receipt asks when (income is taxable when available without substantial restriction). Assignment of income asks who (taxed to the earner). Social Security provisional income = modified AGI...