Other income?

Other income refers to any income that is not derived from a regular job or salary. This can include income from investments, rental properties, freelance work, side gigs, or any other sources of income outside of traditional employment. It is important to report all sources of income, including other income, when filing taxes to ensure compliance with tax laws.

- Interest income: This is earned when you lend money to someone and they pay you interest on the loan.
- Dividend income: This is earned when you own stock in a company and the company pays you a dividend.
- Rental income: This is earned when you rent out property to someone.
- Royalty income: This is earned when you allow someone to use your intellectual property, such as a patent, trademark, or copyright.
- Capital gains: This is earned when you sell an asset for more than you paid for it.
- Lottery winnings: This is earned when you win a lottery.
- Gambling winnings: This is earned when you win a game of chance, such as a slot machine or poker game.
- Gifts: This is received when someone gives you something for free.
- Inheritances: This is received when someone dies and leaves you money or property in their will.
- Awards: This is received when you are given an award for something you have done, such as winning a contest or receiving a scholarship.