Page 31 - Other Income for Individuals
P. 31

Other Income




          Understanding other income is required for tax filing.



















                                                                                                                Life insurance
                                                                                                                  proceeds.

                                                                                         Sales parties at
                                                                                          which you’re
                                                                                          the host or
                                                     Cancelled debts.                    hostess.





           Bartering.                                                                                           Income that’s taxable

                                                                                                                   must be reported on your
                                                                                                                   tax return and is subject
                                                                                                                   to tax.
                                                                                                                 Income that’s nontaxable
                                                                                                                   may have to be shown on
                                                                                                                   your tax return but isn’t
                                                                                                                   taxable.           29
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