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