taxable income
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 281 U.S. 376 - Corliss v. Bowers · 1930Most cited · 1,698 citing opinions
The income that is subject to a man's unfettered command and that he is free to enjoy at his own option may be taxed to him as his income, whether he sees fit to enjoy it or not.
United States Code
26 U.S.C. § 63 — for purposes of this subtitle
Except as provided in subsection (b), for purposes of this subtitle, the term “taxable income” means gross income minus the deductions allowed by this chapter (other than the standard deduction).
26 U.S.C. § 63 — in this section (13 versions over time)
In the case of an individual who does not elect to itemize his deductions for the taxable year, for purposes of this subtitle, the term “taxable income” means adjusted gross income, minus—
(1) the standard deduction,
(2) the deduction for personal exemptions provided in section 151,
(3) any deduction provided in section 199A,
(4) the deduction provided in section 170(p),
(5) the deduction provided in section 224,
(6) the deduction provided in section 225 and 1
(7) so much of the deduction allowed by section 163(a) as is attributable to the exception under section 163(h)(4)(A).
26 U.S.C. § 832 — in this section
In the case of an insurance company subject to the tax imposed by section 831, the term “taxable income” means the gross income as defined in subsection (b)(1) less the deductions allowed by subsection (c).