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Gross income
In accounting, gross income is the total income from property before any expenses are deducted. In taxation, gross income is all income from whatever source derived, except income from items and transactions specifically excluded by the Internal Revenue Code, I.R.C. § 61.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Real estate investment
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