Other income

Other income

Income from activities that are not undertaken in the ordinary course of a firm's business.

Other Income

Income for a company that comes from anything other than its ordinary operations. Other income includes items such as interest from the company's bank accounts, profit from the sale of a fixed asset, and so forth. Other income is not recurring and, as a result, is not included in some calculations of profit or loss.
References in periodicals archive ?
* Notice 2003-55 lease strips and other strip transactions: One party claims to realize rental or other income from property, while another party claims the deductions related to that income (e.g., depreciation and rental expenses).
That's $25,000 worth of interest income that is classified as "other income" in the financial statement.
Unlike other income measures, the MBM dramatically exposes the problems of living decently in some of our most affluent areas.
These losses can also offset capital gains distributions from mutual funds." Ideally, you'll wind up the year with a $3,000 net capital loss because that amount can be fully deducted your other income. (If your losses are larger, the excess must be "carried forward" to future years.)
The bill alleviates for many professionals the problem created in 1986 when Congress deemed all rental real estate "passive" and dissalowed using losses from such activity to offset income from active real estate activities or any other income. Now, those who participate in rental activity for more than 750 hours annually or employees who own more than 5 percent of the employer, may use losses from this work to offset all other business income.
Review transactions of a large and significant nature, including the renting and leasing of buildings, sales of stock, sales of assets and extraordinary, infrequent and irregular items of other income. States will often identify and challenge the character and classification of such items as business or nonbusiness income, depending on whether there is a tax benefit attached.
Instead, they should be reported in the income statement when incurred, separate from other income statement amounts, except for those required to be reported as part of discontinued operations.