9 Unique Types of Passive Income
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Many people dream about living off passive income.
The concept of working hard and creating a perpetual stream of income is appealing.
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Alternatively, you can be lucky and receive a large inheritance or win big at a casino.
These income sources are different from receiving a regular salary in a 9-to-5 job.
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The Internal Revenue Service (IRS) considers these sources of income and several others as unearned income.
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What is Unearned Income?
Unearned income is income from sources, not from employment or a job.
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For example, income from a salary, wages, tips, and a few other sources are earned income.
The IRS views unearned income as income from sources other than personal effort.
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Of course, there are other types, but the ones on this list are common.
Types of Unearned Income
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Long-Term Capital Gain Distribution
Investment Income
Dividend Income
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