What is Gross Income?
Definition Gross income is all income you receive from any source before any deductions, including wages, business profits, interest, dividends, rents, and gains from selling assets. The tax law starts from the broad principle that income is taxable unless a specific rule excludes it. It is the top-line figure from which adjusted gross income and taxable income are later calculated.
Because the definition is so broad, identifying which items are includable versus excludable is the first step toward an accurate return.