What are the different classifications of income?


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Jason Levy answered

Income can be classified three types like ;'

1)Active income: This is the type of income that most of us are familiar with. Earned income, such as that from wages, tips, and business participation are considered active.

2)Portfolio income: This is income from your investments, including capital gains, interest, and dividends, and it’s possible to offset the income from your portfolio with losses.

3)Passive income: Passive income can be defined as money that you do not actively work to produce.

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