Internal Revenue Code Section 61(a) (1954)

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:

1. Compensation for services, including fees, commissions, fringe benefits, and similar items;
2. Gross income derived from business;
3. Gains derived from dealings in property;
4. Interest;
5. Rents;
6. Royalties;
7. Dividends;
8. Annuities;
9. Income from life insurance and endowment contracts;
10. Pensions;
11. Income from discharge of indebtedness;
12. Distributive share of partnership gross income;
13. Income in respect of a decedent; and
14. Income from an interest in an estate or trust.

(August 16, 1954, chapter 736, 68A Stat. 17; Public Law 98–369, div. 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.)

Download QR Code