Whether you’re still wrestling with your 2025 income tax return or have finished this time-consuming and annoying task, you might be feeling right now that everything is taxable. Indeed, the tax code defines gross income (meaning your income before deductions and adjustments) very broadly as “all income from whatever source derived.”

But here’s the good news: The tax code is just as notable for what it excludes from current gross income as what it includes. Knowing what isn’t taxable (ever or at least in the present) could make you feel a tad better and in some cases help you reduce your tax burden, by, for example, angling to get more of your compensation in nontaxable benefits or rearranging your investments to make more of the income they produce tax free.

Here are 50 examples of money (or economic benefits) you can receive without them counting as gross income. Some are little known, while others are so much a part of our everyday lives that you might take them for granted.

1. Health insurance coverage.

This is a big one. In 2025, according to KFF, employers spent an average of $26,993 to cover each worker with a family ($9,325 for single coverage) and the value of those premiums is generally not included in gross income, even though it may show up as a number onr your Form W-2.

2. Long-term care insurance.

Similar to health insurance, employer-paid long-term care coverage is generally excluded from income. Also great? Benefits may also not be taxable subject to certain limits.

3. Dependent care benefits.

Employer-provided dependent care assistance (like a DCAP or FSA) is not taxable up to $5,000 per year ($2,500 if you’re married and file separately), assuming you meet the requirements.

4. Employer education and student loan repayment assistance.

Up to $5,250 of employer-provided education assistance—including tuition, fees, books and student loan repayment assistance–can be excluded from income. (The student loan repayment part is more recent, and while fewer employers offer this, their number is growing.)

5. The first $50,000 in employer paid life insurance coverage.

But be aware that coverage amounts over $50,000 are included in your taxable income, with the imputed income based on your age.

6. Employee achievement awards.

If you receive tangible personal property—not cash or gift cards—for things like length of service or safety achievements, you may be able to exclude its value from income. (Yes, this is how you end up with the occasional commemorative clock.)

7. On-site gym benefits.

If your employer provides access to a gym on the business premises for employees and their families, the value may be excluded. Off-site memberships? Usually taxable.

8. De minimis benefits.

Small perks that are too minor to track—like occasional snacks or limited personal use of a company phone—are considered de minimis. De Minimis is Latin for "you're not getting a real gift." Okay, it really means "of minimum importance" or "trifling,” which, quite frankly, sounds worse. But if your employer provides you with something so small that it would be unreasonable to account for it, the value is not considered income, and it’s not taxable.

9. Holiday gifts (non-cash).

The same de minimis concept applies to non-cash gifts at the holidays. So, a fruit basket or box of chocolates may be considered de minimis (and thus tax-free), but a Rolex watch? Not so de minimis (and thus taxable).

10. Employee discounts.

Discounts on goods or services your employer sells in the normal course of business may be excluded, within limits. (As a former GapKids employee, I love this one.)

11. Tickets and entertainment.

Infrequent, low-value tickets may qualify as a de minimis benefit. But regular or high-value tickets or access to events are usually taxable.

12. Transit passes and parking.

Qualified transportation benefits can be excluded from income. There’s a monthly cap, indexed for inflation. In 2026, it’s $340.

13. Employer-provided vehicles.

A car provided for business use isn’t taxable. Warning: Once you mix business and personal use, some or all of the value of the car may be taxable, depending on the circumstances.

Frequent flyer miles earned from travel (even business travel your employer paid for) are generally not taxed. However, miles received as compensation may be taxable.

15. Deferred compensation and retirement plans.

While this is a big dollar item, to be fair, this is more “not taxable yet” than “not taxable ever.” Contributions that you or your employer make to retirement plans are generally excluded from income now and taxed later when you take distributions. (The opposite may also be true for employee contributions to Roth accounts. See #34).

16. Gifts and inheritances.

In most cases, property you receive as a gift, bequest, or inheritance is not included in your taxable income. (The giver or estate might owe an estate or gift tax. But at the federal level, there’s a big lifetime exemption from those–in 2026 that’s $15 million per person or $30 million per couple. Plus, there’s an annual exclusion: Anyone can give anyone else $19,000 this year, without it counting against their $15 million.)

17. Funds from GoFundMe and similar campaigns.

Assuming there is no business purpose or other non-donative intent, funds that you receive through personal fundraising campaigns are generally treated as gifts. That means you can offer your gratitude, but no services, products, or perks in return. (The IRS looks closely at intent here, so documentation and the campaign’s structure matter.)

18. Sale of your home.

You can generally exclude gain from the sale of your primary residence (up to $250,000 if single or $500,000 if married filing jointly) if you meet the ownership and use tests. A partial exclusion may still be available in certain situations.

19. Short-term rental income.

Rent out your home for fewer than 15 days during the year? You don’t have to report the rental income. The tradeoff: You don’t get to deduct rental expenses either.

A rebate from a manufacturer or dealer isn’t income—it’s treated as a reduction in the purchase price, like a coupon. Depending on the item, that may affect your basis, but it doesn’t create taxable income.

21. Foreign currency transactions (small gains).

If you have a gain on a personal foreign currency transaction due to exchange rates, you generally don’t have to report it unless it exceeds $200. (Cryptocurrency, which the federal government treats as a capital asset, doesn’t get this treatment.)

A child’s earned income, like wages, is generally taxed at their own rate, which means income below the filing threshold—the greater of $1,350 or earned income + $450, up to a maximum of $15,000 for 2026–may not be taxable. (But unearned income, like money from stocks and investments, may be taxed at the parents’ rate under the kiddie tax rules.)

23. Payments for tuition and medical expenses.

If your grandmother or other kind soul pays your tuition directly to the school or your medical expenses directly to the doctor, hospital, or insurer, those amounts aren’t included in your income—no matter the amount. Another perk? It doesn’t count against the donor’s annual or lifetime tax-free gift exemptions.

24. Child support payments.

Parents may worry that receiving child support will increase taxable income. It won’t. Child support is tax-neutral—there’s no deduction for the payer and no income to the recipient.

This can be tricky since the date matters. Following a change in the law, for most divorces finalized in 2019 or later, alimony payments are not deductible to the payer and are not taxable to the recipient.

26. Scholarships and fellowships.

Amounts used for tuition, fees, and required course materials are generally not taxable if you’re a degree candidate. Scholarships may be taxable if they are used for room and board, travel, research, optional equipment, or are payment for teaching or research services (some exceptions apply).

27. Public service loan forgiveness.

Forgiven debts usually count as income (see #47). But if your federal student loans are forgiven because you have worked for 10 years for a charity or government while making qualified student loan payments, the forgiven amount isn’t taxed.

28. Earnings within a 529 college savings account.

Provided the money is used for permitted educational purposes, the earnings in a 529 college savings account aren’t taxable.

29. Savings bond interest used for education.

You may be able to exclude interest from certain U.S. savings bonds if they are used for qualified education expenses. One key rule: the bond owner must have been at least 24 years old when the bond was issued.

30. Free or reduced tuition for university employees and their families.

The tax code allows university employees to exclude qualified undergraduate tuition reductions (even down to zero, making it free) for employees, their spouses and their children. The tax benefit typically doesn’t extend to graduate school.

Other Health And Insurance Benefits

31. Health savings accounts (HSAs).

If you’re eligible, contributions to your HSA, whether made by you, your employer, or even a family member, are not included in income. And distributions used for qualified medical expenses are tax-free. (To be eligible to make contributions, you need to have a high deductible insurance plan.)

32. Benefits from policies you paid for.

If you paid the premiums on an accident policy, the benefits you receive are generally not taxable. If your employer paid the premiums, that result may be different.

Investment And Savings

33. Municipal bond interest.

Interest on municipal bonds is generally exempt from federal income tax. (See Forbes’ picks for the best muni bond funds.)

34. Roth IRA and Roth 401(k) distributions.

Because contributions to Roth plans are made with after-tax dollars, qualified withdrawals (for example, those made during retirement or if you’re disabled) are tax-free. You can also withdraw your original contributions to a Roth IRA at any time tax-free, but the earnings in the account are taxable and may be subject to a penalty, too, if they’re withdrawn before you’re 59½ or before the account has been open for five years.

35. Borrowing against appreciated assets

Used primarily by the rich, this is a way to raise cash without selling an appreciated asset and recognizing taxable capital gains. Assuming those assets are held until death, the appreciation is never taxed–a strategy known as “Buy, Borrow, Die.”

36. Gains on small business stock.

Under section 1202 of the tax code, up to $10 million or $15 million of gains from the sale of Qualified Small Business Stock (depending on when you acquired the stock) may be partially or fully excluded from income, if specific requirements are met.

Government & Public Benefits

37. Veterans’ disability and education benefits.

Disability and education benefits paid under laws administered by Veterans Affairs (VA) are generally tax-exempt. (Military pensions and regular pay are taxable, but the extra combat pay for those serving in a combat zone isn’t taxable.)

38. Social Security benefits (sometimes).

If Social Security is your only income, it’s typically not taxable. Add other income, and up to 85% of your benefits may become taxable depending on your income level.

Social Security Disability Insurance (SSDI) benefits are paid to workers who become disabled and meet work credit requirements. Even though it’s called “disability,” it’s technically part of Social Security insurance, and it’s taxed the same way as retirement benefits, meaning only sometimes.

Supplemental Security Income (SSI) is different–it’s a needs-based program for low-income elderly or disabled individuals. SSI benefits are never subject to federal income tax.

41. Workers’ compensation.

Amounts received for job-related injuries or illnesses under a workers’ compensation statute are not taxable. But there is a twist. If you receive workers’ compensation and SSDI, your SSDI benefits may be reduced. But that reduced amount is still treated as Social Security benefits—and is partly taxable in line with the Social Security rules.

42. Food stamps and other public assistance.

Need-based benefits, such as SNAP benefits (the modern version of food stamps), are not included in taxable income.

43. Disaster relief payments.

Qualified disaster relief payments for necessary personal expenses are generally not taxable.

Medicare is a federal health insurance program that mainly covers people based on age and specific health conditions. It is available to those aged 65 or older, regardless of income, as well as to some younger individuals with disabilities. Medicare benefits (Parts A, B, C, D) are not taxable.

45. Medicaid Benefits

Medicaid is a needs-based public assistance program. Benefits are fully excluded from income.

Legal, Debt & Recovery Situations

46. Compensatory damages.

Damages for physical injury or physical sickness are generally not taxable (punitive damages are a different story).

47. Some canceled debts.

Canceled debt (like when a credit card company agrees to write off your balance) is usually taxable. However, debts canceled in a bankruptcy, or those canceled to the extent you’re insolvent, aren’t taxable.

48. Insurance reimbursements.

Some reimbursements from your insurer—especially for medical expenses or property losses—may be excluded from income, depending on the circumstances.

49. Federal tax refunds.

Federal income tax refunds are not taxable for federal income tax purposes.

50. State and local tax refunds.

State and local tax refunds are not taxable, unless you originally received a federal tax benefit from deducting these state and local taxes (meaning you itemized, instead of claiming the standard deduction).

What About Those New Deductions?

Nicknames for new, temporary deductions under the One Big Beautiful Bill Act (OBBBA) President Trump signed last July have led some taxpayers to believe that there really is no tax on tips, no tax on overtime, and no tax on Social Security. To be clear, those things are still reportable and taxable. What has changed is that they may now be eligible for deductions that reduce—and in some cases, eliminate—your taxable income. (The deductions do not impact how your payroll taxes, like Social Security and Medicare taxes, apply.)

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