§ 61 Gross income defined

OLRC 119-134 · eCFR 2026-10-19 · 17 regs · 2 amending Acts · cited by 10 sections

Enacted 1954 · Act Aug. 16, 1954, ch. 736 Amended · 2 Acts · From 1939 Code § 22(a)

195419842017(a) General definition(b) Cross references
Connections Cited by 10 · Cites 0
§ 61 Gross income defined
    § 1.61-1 Gross income.§ 1.61-2 Compensation for services, including fees, commissions, and similar items.§ 1.61-3 Gross income derived from business.§ 1.61-4 Gross income of farmers.§ 1.61-5 Allocations by cooperative associations; per-unit retain certificates—tax treatment as to cooperatives and patrons.§ 1.61-6 Gains derived from dealings in property.§ 1.61-7 Interest.§ 1.61-8 Rents and royalties.§ 1.61-9 Dividends.§ 1.61-10 Alimony and separate maintenance payments; annuities; income from life insurance and endowment contracts.§ 1.61-11 Pensions.§ 1.61-12 Income from discharge of indebtedness.§ 1.61-13 Distributive share of partnership gross income; income in respect of a decedent; income from an interest in an estate or trust.§ 1.61-14 Miscellaneous items of gross income.§ 1.61-15 Options received as payment of income.§ 1.61-21 Taxation of fringe benefits.§ 1.61-22 Taxation of split-dollar life insurance arrangements.

    Cases: Commissioner v. Schleier, 515 U.S. 323 (1995); Commissioner v. Kowalski, 434 U.S. 77 (1977); James v. United States, 366 U.S. 213 (1961)

    Final rules 9

      (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:

      Amended 2017
      • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.
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        (1) Compensation for services, including fees, commissions, fringe benefits, and similar items;

        Amended 1984
        • 1984 Pub. L. 98-369 Pub. L. 98–369 inserted reference to fringe benefits.
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          (2) Gross income derived from business;

          (3) Gains derived from dealings in property;

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            (4) Interest;

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              (5) Rents;

              (6) Royalties;

              (7) Dividends;

              (8) Annuities;

              Amended 2017
              • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.

              (9) Income from life insurance and endowment contracts;

              Amended 2017
              • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.

              (10) Pensions;

              Amended 2017
              • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.

              (11) Income from discharge of indebtedness;

              Amended 2017
              • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.

              (12) Distributive share of partnership gross income;

              Amended 2017
              • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.
              Cited by 4

                (13) Income in respect of a decedent; and

                Amended 2017
                • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.

                (14) Income from an interest in an estate or trust.

                Amended 2017
                • 2017 Pub. L. 115-97 Pub. L. 115–97 redesignated pars. (9) to (15) as (8) to (14), respectively, and struck out former par. (8) which read as follows: “Alimony and separate maintenance payments;”.

                (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).