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Get your taxes done using TurboTax
Yes, if you are required to file an income tax return. Generally, 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 is not taxable.
- A list is available in Publication 525, Taxable and Nontaxable Income.
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ā€ˇFebruary 3, 2021
9:24 AM