Describe the rules of taxation for each of income topics

1.  Rental income

2. Long Term Capital Gains and Losses

3. Annuity income

4.  Amounts received from settlement of lawsuits or from court judgments.

           Specify the different treatment for:

(a) compensation for pain and suffering,

(b) punitive damage awards,

(c) compensation for mental and emotional distress,

(d) compensation for lost wages 

5.  Discharge of Indebtedness Income

6.  Scholarships

7.  Divorce payments: Alimony vs. Child Support vs. Property Division

8. Prizes winnings, both cash and property (vehicles, vacations, etc.)

9. Gambling winnings

10. Consulting income

11. Non-cash transactions (barter systems)