1. Adoption expense reimbursements for qualifying expenses,

2. Child support payments,

3. Gifts, bequests and inheritances,

4. Non cash employer gifts (holiday turkey),

5. Workers’ compensation benefits,

6. Meals and lodging for the convenience of your employer,

7. Compensatory damages awarded for physical injury or physical sickness,

8. Welfare benefits,

9. Economic recovery payments, and

10. Cash rebates from a dealer or manufacturer

Some income may be taxable under certain circumstances, but not taxable in other situations. Examples of items that may or may not be included in your taxable income are:

1. Life Insurance. If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy. Life insurance proceeds which were paid to you because of the insured person’s death are not taxable unless the policy was turned over to you for a price.

2. Scholarship or Fellowship Grant. If you are a candidate for a degree, you can exclude amounts you receive as a qualified scholarship or fellowship. Amounts used for room and board do not qualify.

3. Non-cash Income. Taxable income may be in a form other than cash. One example of this is bartering, which is an exchange of property or services. The fair market value of goods and services exchanged is fully taxable and must be included as income on Form 1040 of both parties.