Identify where the following items show up on the first two pages of Form 1040. Why is this significant?

Gross income (realized income from whatever source derived minus excluded or deferred income)

For AGI deductions

Schedule C Business Income and Expense

Schedule E Rental Income and Expense

Schedule D Gains and Losses

Alimony Income and Alimony Expense

Standard or Itemized Deductions

Exemptions

Tax

In addition, list one item of gross income that is excluded from income. Explain why it should be excluded.

Note: Your example must be original. If a student has already posted this example, you must come up with a different example.