Types of income

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Last updated 3:57 PM on 10/14/26
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8 Terms

1
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Interest

Corporate bonds
Mortgage
Life Insurance
Bank Deposits

2
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Interest Income Exclusions

Tax exempt interest
EE Bonds

3
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Dividends

Qualified Dividends are tax favored

4
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Non qualified dividend examples

Foreign dividends

dividends from tax exempt entities

dividends that don’t satisfy the holding period

5
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Rent

Taxed when received
Renter improvements are taxed if done in lieu of rent

6
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Other income

Capital gain distributions

business income

royalties
Cancelled debt

unemployment

Social security (up to 85%)

7
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Alimony pre 2019

payer can deduct
receiver must report

8
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Alimony Post 2019

Payer must report
Receiver can deduct