What does the IRS tax? Just about everything. The Internal Revenue Code defines taxable income as gross income minus deductions. And gross income, federal law says, “means all income from whatever source derived.” That’s a lot of territory, covering not only earned income like wages but also unearned income from investments.
What Qualifies As Nontaxable Income?
Kay Bell (Contributing Writer), NerdWallet.com
Thu, 03/02/2017 - 11:57am
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