[WSBAPT] IRC Definition of "Income"

[David Sweeney]

Possibly you would have to look at the Washington Principal and Income Act?

David B. Sweeney
Smith & Zuccarini, P.S.
2155-112th Avenue NE
Bellevue, Washington 98004
Telephone:  425-453-4455
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E-mail:D.sweeney at smithzuccarini.com<blocked::mailto:D.sweeney at smithzuccarini.com>
www.smithzuccarini.com<http://www.smithzuccarini.com/>
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of David Faber
Sent: Friday, February 23, 2018 1:41 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] IRC Definition of "Income"

I'm trying to find a definition of the term "income" (not "gross income") under the IRC. The "gross income" definition in IRC 61(a)(15) states that "income from an estate or trust" but does not provide any guidance on what "income" means in that context. Can anyone tell me how "income" is defined independent of the term "gross"?

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110

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