describe the rules of taxation for each of the following income items:

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)