§ 61. Gross income defined
2,583 words·~12 min read·
/usc/title-26/section-61A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General definition Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items:
(1)Compensation for services, including fees, commissions, fringe benefits, and similar items;
(2)Gross income derived from business;
(3)Gains derived from dealings in property;
(4)Interest;
(5)Rents;
(6)Royalties;
(7)Dividends;
(8)Annuities;
(9)Income from life insurance and endowment contracts;
(10)Pensions;
(11)Income from discharge of indebtedness;
(12)Distributive share of partnership gross income;
(13)Income in respect of a decedent; and
(14)Income from an interest in an estate or trust.
(b)Cross references For items specifically included in gross income, see part II (sec. 71 and following). For items specifically excluded from gross income, see part III (sec. 101 and following).
(Aug. 16, 1954, ch. 736, 68A Stat. 17; Pub. L. 98–369, div. A, title V, § 531(c), July 18, 1984, 98 Stat. 884; Pub. L. 115–97, title I, § 11051(b)(1)(A), Dec. 22, 2017, 131 Stat. 2089.)
Connections113 cite this · traces to 7
Cited by 113 sections · top 60
U.S. Code
- § 40101Policy
- § 62Adjusted gross income defined
- § 7701Definitions
- § 408Individual retirement accounts
- § 152Dependent defined
- § 61Gross income defined
- § 1401Rate of tax
- § 3402Income tax collected at source
- § 121Exclusion of gain from sale of principal residence
- § 223Health savings accounts
- § 219Retirement savings
- § 167Depreciation
- § 382Limitation on net operating loss carryforwards and certain built-in losses following ownership change
- § 220Archer MSAs
- § 6724Waiver; definitions and special rules
- § 117Qualified scholarships
- § 6166Extension of time for payment of estate tax where estate consists largely of interest in closely held business
- § 71Repealed. Pub. L. 115–97, title I, § 11051(b)(1)(B), Dec. 22, 2017, 131 Stat. 2089]
- § 123Micro entity defined
- § 215Repealed. Pub. L. 115–97, title I, § 11051(a), Dec. 22, 2017, 131 Stat. 2089]
- § 2032AValuation of certain farm, etc., real property
- § 682Repealed. Pub. L. 115–97, title I, § 11051(b)(1)(C), Dec. 22, 2017, 131 Stat. 2089]
- § 405DETERMINATION OF ELIGIBILITY FOR COMPENSATION.
public-private-law
CFR
statutes-at-large
- Public Law 511
- Public Law 93–375To amend the Act of August 9, 1955, relating to school fare subsidy for transportation of schoolchildren within the District of Columbia
- Public Law 87–870
- Public Law 96–167To continue through May 31, 1981, the existing prohibition on the issuance of fringe benefit regulations, and for other purposes
- Public Law 100–647To make technical corrections relating to the Tax Reform Act of 1986, and for other purposes
- Public Law 98–369To provide for tax reform, and for deficit reduction
- Public Law 97–34To amend the Internal Revenue Code of 1954 to encourage economic growth through reduction of the tax rates for individual taxpayers, acceleration of capital cost recovery of investment in plant, equipment, and real property, and incentives for savings, and for other purposes
- Public Law 95–600To amend the Internal Revenue Code of 1954 to reduce income taxes, and for other purposes
- Public Law 95–615To change the tax treatment of income earned abroad by United States citizens and residents, and for other purposes
- Public Law 96–122To establish an actuarially sound basis for financing retirement benefits for police officers, fire fighters, teachers, and judges of the District of Columbia and to make certain changes in such benefits
- Public Law 98–4Relating to the treatment for income and estate tax purposes of commodities received under 1983 payment-in-kind programs, and for other purposes
- Public Law 94–452To amend the Internal Revenue Code of 1654 with respect to the tax treatment of certain divestitures of assets by bank holding companies
register
- Rules and RegulationsFinal rule
- NoticesAmendment of system of records notice “veteran's spouse or dependent civilian health and medical care records-VA”
- Presidential DocumentsFinal rule
- NoticesNotice of a Modified System of Records
- UnknownFinal Rule
- Rules and RegulationsProposed rule
- NoticesNotice of amendment to system of records
- Proposed RulesNotice of proposed rulemaking
- NoticesNotification of funds availability
- NoticesNotice of Modified System of Records
- NoticesNotice of submission to Congress of amendments to the sentencing guidelines effective November 1, 2013
- NoticesNotice of a Modified System of Records SUMMARY: Pursuant to Privacy Act of 1974, notice is hereby given that VA proposes to modify an existing system of records, “Compensation, Pension, Education, and Vocational Rehabilitation and Employment (VR&E) Records—VA” (58VA21/22/28)
- NoticesNotice of proposed rulemaking
- NoticesNotice of modified system of records
- NoticesFinal rule
- NoticesNotice of proposed rulemaking
- NoticesNotice of amendment to system of records notice
- NoticesFinal rule
- NoticesNotice of amendment to system of records
Traces to 7 documents
39 references not yet in our index
- Aug. 16, 1954, ch. 736
- 68A Stat. 17
- Pub. L. 98–369, div. A, title V, § 531(c)
- 98 Stat. 884
- 131 Stat. 2089
- Pub. L. 98–369
- 131 Stat. 2090
- section 531(h) of Pub. L. 98–369
- Pub. L. 95–615, § 210(a)
- 92 Stat. 3109
- Pub. L. 95–615
- Pub. L. 95–427, § 1
- 92 Stat. 996
- Pub. L. 96–167, § 1
- 93 Stat. 1275
- Pub. L. 97–34, title VIII, § 801
- 95 Stat. 349
- Pub. L. 99–514, § 2
- 100 Stat. 2095
- Pub. L. 95–615, § 3
- 92 Stat. 3097
- Pub. L. 98–369, div. A, title X, § 1026
- 98 Stat. 1031
- Pub. L. 98–4
- 97 Stat. 7
- Pub. L. 98–369, div. A, title X, § 1061(a)
- 98 Stat. 1046
- Pub. L. 100–647, title VI, § 6252(a)(1)
- 102 Stat. 3752
- Pub. L. 98–369, div. A, title X, § 1061(b)
- 98 Stat. 1047
- Pub. L. 94–455, title XXI, § 2117
- 90 Stat. 1911
- Pub. L. 95–600, title I, § 162
- 92 Stat. 2810
- Pub. L. 94–455, title XXI, § 2119
- 90 Stat. 1912
- Pub. L. 86–780, § 5
- 74 Stat. 1013
Citation graph
cites case law
§ 61
Gross income defined
Fed. Reg.×50
Stat.×33
U.S.C.×24
C.F.R.×4
IRM×1
Pub. L.×1
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 17
Pub. L.Pub. L. 98–369, div. A, title V, § 531(c)
Stat.98 Stat. 884
Stat.131 Stat. 2089
Cites 46 · showing 12Cited by 113 across 6 sources