Defining Income tems included in h-s Income H-S definition encompasses Items ordinarily thought of as income include wages salaries, business profits, rents, royalties, dividends and interest Employer pension contributions and insurance premiums Transfer payments like Social Security, Unemployment Insurances, and Welfare Capital Gains(whether they are realized or unrealized) Imputed rental income from durable goods7 Defining Income: Items included in H-S Income • H-S definition encompasses: – Items ordinarily thought of as income include wages, salaries, business profits, rents, royalties, dividends, and interest – Employer pension contributions and insurance premiums – Transfer payments like Social Security, Unemployment Insurances, and Welfare – Capital Gains (whether they are realized or unrealized) – Imputed rental income from durable goods