Courtesy of the Internal Revenue Service TT-2008-30
Generally, most income you receive is taxable. But there are some situations when certain types of income are partially taxed or not taxed at all. A comprehensive list is available in IRS Publication 525, Taxable and Nontaxable Income.
Some common examples of items that are not included in your income are:
Examples of items that may or may not be included in your income are:
All other items, unless specifically excluded by law, must be included in your income. This income may be in a form other than cash. For example:
These examples are not all-inclusive. For more information, visit the IRS Web site at IRS.gov to view or download Publication 525 from the Forms and Publications section or call 800-TAX-FORM (800-829-3676).
Remember that for the genuine IRS Web site be sure to use .gov. Don’t be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.
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- IRS Publication 525 :: Taxable and Nontaxable Income