What types of income are not taxable?

For most people, these types of income are NOT taxable:

• Life insurance proceeds
• IRA and Pension rollovers
• Roth IRA qualified distributions
• Child support payments
• Inheritances
• Gifts
• Workers Compensation
• Disability payments if the premiums were paid by you
• Court awards for personal physical injuries or physical sickness
• Health and accident benefits
• Scholarships, fellowships, and Pell grants (if used for education)
• Foster care payments
• Usually the gain on the sale of your personal home
• Welfare payments
• Supplemental Security Income (SSI)
• Some Social security benefits
• Some of cancellation of debt
• Veterans Administration disability benefits
• Insurance proceeds for theft or damage to your property
• Rebate points from credit cards
• Long-term care insurance benefits
• Military allowances
• Reimbursement for medical care
• Federal income tax refund
• State income tax refund (if standard deduction was taken last year)