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Miscellaneous Income Definition

Previously called “miscellaneous information,” miscellaneous income is a catch-all category that includes various sources of income that must be reported to the IRS.

Miscellaneous Income Expanded Definition
Some forms of income are challenging to classify when recording business transactions. Miscellaneous income includes a broad group of accounts, including:

Rent payments
Royalties
Fishing boat proceeds
Crop insurance proceeds
Prizes and awards

Last Updated By

Rachel Blakely-Gray | Apr 17, 2023

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