Taxable/Nontaxable Income
The tables below are designed to assist in determining items that should be reported as taxable to the City and items that should not be listed on your tax return. The following lists are not all-inclusive:
| Taxable Income |
Non-Taxable Income |
- Salaries and wages
- Bonuses
- Commissions and fees
- Incentive payments
- Sick pay
- Third party sick pay provided by employer
- Vacation pay
- Qualified pension plans
- Employee retirement plan contributions
- Group term life insurance $50,000+
- Stock options
- Severance pay
- Lottery and gaming winnings
- Director fees
- Net profit as a sole proprietor/LLC
- Net profit from rental property
- Certain royalties
- Compensation paid in the form of property
- Distributive shares from a LLC, partnership, S-Corporation
|
- Retirement income
- IRA distributions
- Annuity distributions
- Social Security benefits
- Social Security – Disability benefits
- Welfare benefits
- Government allotments
- Interest income
- Dividend income
- Capital gains
- State unemployment compensation
- Worker’s Compensation
- Welfare benefits
- Cafeteria plans
- HSA/FSA plans
- Military pay (including reserves)
- Alimony
- Child support
- Certain royalties
- Clergy housing allowance
- Election official (up to $1,000)
- Jury duty
- Insurance proceeds
- State/Local refunds
|
| Taxable Forms |
Non-Taxable Forms |
- Federal Form W2
- Federal Form W2G
- Federal Form 1099MISC
- Federal Schedule C
- Federal Schedule E pg. 1
- Federal Schedule E pg. 2
- Federal Schedule K-1
|
- Federal Form 1099R
- Social Security Form SSA1099
- Federal Form 1099G
- Federal Form 1099INT
- Federal Form 1099DIV
- Federal Form 1099B
|