Taxpayers need not include an income item in gross income unless there is a specific tax provision requiring the taxpayer to include the income item in gross income.

Name: Taxpayers need not include an income item in gross income unless there is a specific tax provision requiring the taxpayer to include the income item in gross income.
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Question

Quizplus · Accepted Answer

Taxpayers are generally required to include all income in gross income unless there is a specific exclusion or deferral provision in the tax code.

Taxpayers Need Not Include an Income Item in Gross Income