### Question
How is the "taxable income" defined?


### Answer
The term **taxable income** is defined in *26 U.S.C. § 63* as follows -

> gross income minus the deductions allowed by this chapter (other than the standard deduction)

#### Citation:
  - *26 U.S.C. § 63*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART I-DEFINITION OF GROSS INCOME, ADJUSTED GROSS INCOME, TAXABLE INCOME, ETC.**

