Gross Income Defined
(a) General definition — Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items:
- Compensation for services, including fees, commissions, fringe benefits, and similar items;
- Gross income derived from business;
- Gains derived from dealings in property;
- Interest;
- Rents;
- Royalties;
- Dividends;
- Annuities;
- Income from life insurance and endowment contracts;
- Pensions;
- Income from discharge of indebtedness;
- Distributive share of partnership gross income;
- Income in respect of a decedent; and
- Income from an interest in an estate or trust.
(b) Cross references — For items specifically included in gross income, see part II (Section 71 and following). For items specifically excluded from gross income, see part III (Section 101 and following).
(August 16, 1954, chapter 736, 68A Stat. 17; Public Law 98–369, division A, title V, § 531(c), July 18, 1984, 98 Stat. 884; Public Law 115–97, title I, § 11051(b)(1)(A), December 22, 2017, 131 Stat. 2089.)
