The Code defines gross income as “all income from whatever source derived” unless otherwise provided. But what are some kinds of income excluded from such a broad definition? Section 104 provides that compensation for personal injuries and sickness, among other things, is excluded from gross income.
In this episode, Professor Heather Field demonstrates the art of statutory interpretation by dissecting a short but not-so-simple part of section 104. Professor Field is the Stephen A. Lind Professor of Law and Co-Director of the Center on Tax Law at the University of California Law San Francisco (formerly UC Hastings).
Tax Class is hosted by Ben Leff and produced by Tony Xu. The theme music is by Doo Dah Music. None of the information presented in this podcast constitutes legal advice. Consult an attorney or a tax professional for guidance.
Subscribe to the show for more insights into the federal income tax. Send any comments or questions to TaxClassPodcast@gmail.com.
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Materials mentioned in this episode:
- IRC § 104
- Pre-class exercise
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