Income is not a wage or compensation for any type of labor. The Treasury cannot by interpretive regulations, make income of that which is not income within the meaning of the revenue acts of Congress, nor can Congress, without apportionment, tax as income that which is not income within the meaning of the 16th Amendment. IRS cannot enlarge the scope of the statute. Treasury regulations can add nothing to income as defined by Congress.
Property acquired by gift is excluded from gross income.
And the tax actually imposed by Congress has been on net income as distinct from gross income. The legislature may declare as 'privileged' and tax as such for state revenue, those pursuits not matters of common right, but it has no power to declare as a 'privilege' and tax for revenue purposes, occupations that are of common right. Laureldale Cemetery Assoc.