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What is excluded from taxable income?
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11 votes
11 votes
What is excluded from taxable income?

User HauntedSmores
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11 votes
11 votes
Income excluded from the IRS's calculation of your income tax includes life insurance death benefit proceeds, child support, welfare, and municipal bond income. The exclusion rule is generally, if your "income" cannot be used as or to acquire food or shelter, it's not taxable.
User Mustafa ALMulla
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