Gross (or total) income includes

Question

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Gross income includes all income from whatever source derived, including passive income (e.g., rental income, limited partnership profits). Exclusions (A) are specific items excluded by law from gross income. Tax deductions (B) are subtracted from gross income to arrive at taxable income, not included in gross income. Tax-deferred income (C) is income whose taxation is postponed to a future date, not included in current gross income. Tax-exempt income (E) is income that is not subject to tax at the federal or state level and thus not included in gross income.

Gross (Or Total) Income Includes