banner-img

Learning can be easier with EX - Library.

Explore our newest feature, a reliable informational resource you've been looking for!
Join |
< Back to questions :: Q&A / Other / Business and Industry Services

Business income

Other
Business and Industry Services
From Armenia
To Denmark
349 views / 0 experts
Amber S.
Apr 14, 2021

What is business income?

1 answer

Julius S.
Apr 15, 2021

Business income is all income arising from transactions, activities, and sources in the regular course of the taxpayer's trade or business. Business income includes a taxpayer’s distributive share of income or losses reported on a federal schedule K-1, including portfolio income. Portfolio income includes interest income, dividend income, royalty income, and net short-term and long-term capital gains (losses) to the extent included in federal adjusted gross income. Rental income is also considered business income if it is determined to be an integral part of the taxpayer’s trade or business.

read more

Top Rated Experts

Raymond Yang
Raymond Y.
Leon Lacroix
Leon L.
Amber Stellingwerf
Amber S.
This website uses cookies. By using this website, you consent to our use of these cookies