Taxable Income Archives - John R. Dundon II, Enrolled Agent
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Taxable Income Tag

Gambling winnings are fully taxable and must be reported on your tax return. Gambling income includes – but is not limited to – winnings from lotteries, raffles, horse and dog races and casinos, as well as the fair market value of prizes such as cars, houses,...

While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. To ensure taxpayers are familiar with the difference between taxable and non-taxable income, the Internal Revenue Service offers these common...

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