Income in kind, or in-kind income, is income other than money income. It includes many employee benefits and government-provided goods and services, such as toll-free roads, food stamps, public schooling, or socialized medicine.
Types of Income in Kind
- Free rent in exchange for caretaking duties.
- Note: If the caretaker receives a paycheck with an amount for rent deducted, the gross earnings are earned income, not in-kind income.
- Free room and board provided by a friend or relative.
- Free clothing or household goods provided by a community organization.
- Exchange of services, such as babysitting.
See also
References
- "In-Kind Income: Definition". Answers.com. Retrieved 14 November 2012.
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