What type of income is included in gross income for a single wage earner under age 65?

Gross income for a single wage earner under age 65 includes all income that is not specifically excluded by tax law, and this covers a range of sources. Wages from employment are typically included in gross income, as they represent earned income. Additionally, unemployment compensation is also considered taxable income and must be reported. This means that if an individual is receiving unemployment benefits while also earning wages, both sources contribute to their gross income.

The other types of income listed, while potentially part of gross income in other contexts, do not form a complete picture when considered individually. Self-employment income is part of gross income, but it does not apply to wage earners who are not self-employed. Capital gains, while another component of gross income, only apply when an asset is sold for more than its purchase price, which does not encompass all sources of income that a single wage earner under age 65 may receive on a regular basis. Thus, the inclusion of both wages and unemployment compensation provides a more comprehensive understanding of what constitutes gross income for this scenario.