Specific income inclusions
Specific income exclusions
Dependents (qualifying child or relative)
Gifts and Inheritances
Cesarini v United States
If you find cash, it's included as ordinary income in the year you found it. (piano)
Old Colony Trust v Commissioner
If someone pays your tax due, that pmt should be included in your gross income.
Commissioner v Glenshaw Glass Co.
Punitive damages qualify as income
Dean v Commissioner
House transferred to company owned by Dean due to financial distress. FMV of rent to be included as income.
Identifies which dedcutions can be taked above the line
Taxable income defines
Cannot duplicate above the line deductions below the line as itemized deductions