Miscellaneous Income Definition

Short Definition
为商业目的,油水混合物neous income is a catch-all category which includes varied sources of income not usually thought of as revenue. Examples include money received for Jury Duty,HobbyIncome and Gambling Winnings.

Expanded Definition
Some forms of income are challenging to classify when recording business transactions. Miscellaneous income includes a broad group of accounts including bartering (where no money changes hands), endowment contract proceeds, and cancelled debt. The Internal Revenue Service (IRS) even mandates illegal income be reported using this category.

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What Is Miscellaneous Income?