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Get your taxes done using TurboTax
Yep - the IRS considers all income taxable unless specifically labeled nontaxable somewhere in the tax code. In most cases, an amount included in your income is taxable unless it is specifically exempted by law. Income that is taxable must be reported on your return and is subject to tax. Income that is nontaxable may have to be shown on your tax return but isn’t taxable. See Pub 525
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April 11, 2024
5:07 PM