Income Types

What all Income Types are

Wage Income

Money you earn from a job (hourly, salary, overtime) 

What are Tips

Extra money from customers (restaurants, salons, etc.) 

Self-Employment Income

Money from freelance, gig work, or running your own business 

Commissions & Bonuses 

Extra pay based on performance or sales 

Interest Income

Money earned from savings accounts, CDs, or bonds 

Dividend Income 

Payments from stocks you own

Capital Gains 

Profit from selling stocks, crypto, or property

Digital Asset Income 

Crypto sales, mining rewards, NFT profits 

Rental Income 

Money from renting out property

Royalties 

Payments for use of intellectual property (books, music, patents) 

Limited Partnership Income 

Share of profits from a business you don’t manage 

Unemployment Compensation 

Government payments after job loss 

Retirement Income 

Withdrawals from 401(k), IRA, or pensions 

Social Security Benefits 

Monthly payments from SSA (retirement or disability) 

Gambling Winnings 

Lottery, casino, sports betting 

Prizes and Awards 

Contest winnings, sweepstakes, gift cards 

Barter Income 

Trading goods/services instead of cash 

Cancelled Debt 

Forgiven loans (credit cards, student loans, etc.) 

Hobby Income 

Money from a hobby (not a business) 

Alimony (pre-2019)

Payments from ex-spouse (divorces before 2019)