<p>Hi,</p>
<p>I was just curious what doed “taxable income” literally mean? Is it the income on which you have to pay tax to the gov’t? Or is it the income on which the gov’t gives you money when you file your tax return?</p>
<p>It was asked on my Cornell’s HEOP application, and here’s the exact version just in case if you need to answer my question:
</p>