Understanding Tax Terms: Unearned Income – Not all income is the same in the eyes of the tax code What’s in a name? If it is defining different types of income, it can mean more income tax obligations. Here are some things to know Understanding Tax Terms: Unearned Income The tax code uses jargon that can be confusing for the unwary. One of them that impacts most of us is the term “unearned” income. Unearned income is often defined as anything that is not “earned” income. If you find this kind of definition a little too vague, here is some

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