Final answer:
The item that would not be included in Doug's gross income is a gift from a friend, as gifts are not considered taxable gross income by the IRS guidelines.
Step-by-step explanation:
The item that would not be included in Doug's gross income is a gift from a friend. According to the IRS, typical sources of gross income include wages, salaries, tips, dividends, interest, rents, and alimony. However, gifts are generally excluded from gross income, unless they come from an employer under the guise of a gift but are a form of compensation for services rendered.
- Salary from his full-time job is taxable and thus counted as gross income.
- Dividends from investments are considered investment income and are included in gross income.
- Gifts from friends or relatives, as long as they are not compensation for services, do not count as gross income.
- Rental income from property he owns is also included in gross income as it's income earned from investment property.