What is gross income?
Gross income refers to all of your income from all sources before any taxes or other deductions are made. It can include wages, tips, salaries, bonuses, capital gains from investments, dividends, interest income, Social Security, other retirement income, and more. It also includes income from rental properties and 1099 income from self-employment and independent contractor work.
As a simplified example, if you earn a $100,000 salary from your job, get $500 in interest from your savings account, and get a $10,000 bonus at the end of the year, you would have gross income of $110,500.