-CITE-

26 USC Sec. 61 01/26/98

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter B - Computation of Taxable Income
PART I - DEFINITION OF GROSS INCOME, ADJUSTED GROSS INCOME, TAXABLE INCOME, ETC.

-HEAD-

Sec. 61. Gross income defined

-STATUTE-

(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) Alimony and separate maintenance payments;
  (9) Annuities;
  (10) Income from life insurance and endowment contracts;
  (11) Pensions;
  (12) Income from discharge of indebtedness;
  (13) Distributive share of partnership gross income;
  (14) Income in respect of a decedent; and
  (15) 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).

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 17; July 18, 1984, Pub. L. 98-369, div. A, title V, Sec. 531(c), 98 Stat. 884.)

-MISC1-

AMENDMENTS

[Amendments deleted]

-CROSS-

CROSS REFERENCES

Capital gains and losses, see section 1201 et seq. of this title.

Guaranteed payments to partner for services or use of capital considered as made to one not member of partnership for purposes of this section, see section 707 of this title.

Income from sources -

Within the United States, see section 861 of this title.
Without the United States, see section 862 of this title.

Items specifically excluded from gross income -
  Certain death benefits, see section 101 of this title.
  Income from discharge of indebtedness, see section 108 of this title.

Items specifically included in gross income -
  Alimony and separate maintenance payments, see section 71 of this title.
  Annuities; certain proceeds of endowment and life insurance contracts, see section 72 of this title.
  Recipients of income in respect of decedents, see section 691 of this title.
  Trust income attributable to grantors and others as substantial owners includible in gross income, see section
     671 of this title.