What are examples of Other Income?
Here are some examples of other income:
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Interest income: This is income earned from interest-bearing investments, such as bonds, certificates of deposit, and savings accounts.
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Dividend income: This is income earned from shares of stock that are held in a company.
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Rental income: This is income earned from renting out property, such as a house, apartment, or office space.
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Royalties: This is income earned from the use of intellectual property, such as patents, copyrights, and trademarks.
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Gains from the sale of capital assets: This is income earned from the sale of assets that have appreciated in value, such as stocks, bonds, and real estate.
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Miscellaneous income: This is income that does not fit into any of the other categories, such as benefits, awards, and prizes.
Important note: Be prepared to provide valid documentation of your other income.
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