Identify where the following items show up on the first two pages of the 2017 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.
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