Miscellaneous Income Definition

Previously called “miscellaneous information,” miscellaneous income is a catch-all category that includes various sources of income that must be reported to the IRS.

Miscellaneous Income Expanded Definition
Some forms of income are challenging to classify when recording business transactions. Miscellaneous income includes a broad group of accounts, including:

  • Rent payments
  • Royalties
  • Fishing boat proceeds
  • Crop insurance proceeds
  • Prizes and awards

Related Article
Miscellaneous “Income” Is Now Miscellaneous “Information.” So, What Is It?

Last Updated By

Christan Neff | Apr 17, 2023

Check out Our Accounting Software

See a Demo

Back to Top