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Unformatted text preview: mptions = First select a filing status: single, married joint, married separate, head of household, qualifying widow(er) Taxable Income 11 Gross Income Gross Income Gross income includes all income that is not specifically excluded by statute or administrative and judicial decisions If there is any doubt, you can assume that something is taxable unless you can find a specific exception (e.g. qualified scholarships) Why the value of a parking benefit up to $250/month is excluded from tax in 2014 12 Partial List of Items Excluded from Taxable Income Partial List of Items Excluded from Taxable Income Employer paid accident and health insurance premiums Employer paid company parking Athletic facilities provided by employer on site Damage awards: personal physical injuries or sickness Gifts and inheritances received Scholarships and fellowships: degree programs Payments under workers compensation acts Life insurance proceeds 13 Gross Income Gross Income Your gross income includes: Earned inco...
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