Which of the following income is generally excluded from gross income?
A)Alimony
B)Unemployment compensation
C)Hobby income
D)Social Security benefits
E)All of the above

Question

Quizplus · Accepted Answer

Social Security benefits are generally excluded from gross income. Alimony and hobby income are taxable income and should be included in gross income. Unemployment compensation is also considered taxable income and should be included in gross income, although there are some exceptions for certain situations.

Which of the Following Income Is Generally Excluded from Gross