Quote: (08-30-2011 06:37 PM)worldwidetraveler Wrote:
We are talking about person income, not what your business is making.
Did you actually read the Publication 54?
It makes it very clear that only earned income could be excluded.
For example, your gambling winnings, alimony and pension are definitely personal income, but it CANNOT be excluded.
Your professional fees may be business income which CAN be excluded.
Business income is stated as "variable", meaning it may or may not be excluded depending on circumstances.