Reg. § 1.61-14 Miscellaneous items of gross income.
(a) In general In addition to the items enumerated in section , there are many other kinds of gross income. For example, punitive damages such as treble damages under the antitrust laws and exemplary damages for fraud are gross income. Another person's payment of the taxpayer's income taxes constitutes gross income to the taxpayer unless excluded by law. Illegal gains constitute gross income. Treasure trove, to the extent of its value in United States currency, constitutes gross income for the taxable year in which it is reduced to undisputed possession.
(b) Cross references
(1) Prizes and awards, see section and regulations thereunder;
(2) Damages for personal injury or sickness, see section and the regulations thereunder;
(3) Income taxes paid by lessee corporation, see section and regulations thereunder;
(4) Scholarships and fellowship grants, see section and regulations thereunder;
(5) Miscellaneous exemptions under other acts of Congress, see section ;
(6) Tax-free covenant bonds, see section and regulations thereunder.
(7) Notional principal contracts, see .
[T.D. 6500, 25 FR 11402, Nov. 26, 1960, as amended by T.D. 6856, 30 FR 13316, Oct. 20, 1965; T.D. 8491, 58 FR 53127, Oct. 14, 1993]