26 USC 61 - Gross income defined

U.S Code last checked for updates: Nov 24, 2024

§ 61.

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.

(b)

Cross references

(Aug. 16, 1954, ch. 736, 68A Stat. 17; Pub. L. 98–369, div. A, title V, § 531(c), July 18, 1984, 98 Stat. 884; Pub. L. 115–97, title I, § 11051(b)(1)(A), Dec. 22, 2017, 131 Stat. 2089.)

cite as: 26 USC 61