Gross income is…Group of answer choicesIncome, gain, or profit that is subject to tax.This is income where taxes are already deducted.

Gross income is the total income earned by an individual or a business before any deductions such as taxes, expenses, or losses are taken into account. It is the starting point for determining how much of an individual's or a company's income is taxable.

Here are the steps to understand it:

1. Identify Total Earnings: This includes all the money you earn in a year, not just your take-home pay. It includes wages, tips, bonuses, dividends, rental income, alimony, and all other sorts of income.

2. Exclude Non-Taxable Income: Some types of income are not considered part of your gross income. These include certain types of interest and dividends, welfare benefits, inheritances, and gifts.

3. Subtract Deductions: From your total earnings, subtract any deductions you're eligible for. These might include certain business expenses, student loan interest, or contributions to a retirement account.

4. Result is Gross Income: The result is your gross income. This is the amount that the IRS considers for tax purposes.

So, gross income is income, gain, or profit that is subject to tax. It is not income where taxes are already deducted.