Module IE.1.5: Types of Income

Standard: EPF.IE.1.5

Objective: Distinguish between different types of income (earned, unearned, passive).

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Lesson Overview

• Define earned, unearned, and passive income
• Provide examples of each type
• Discuss tax implications

Teacher Notes

• Use real pay stubs and investment examples
• Relate to students' family income sources
• Discuss side hustles and gig economy

Activities

• Income source scavenger hunt
• Create a personal income chart
• Tax scenario analysis

Assessment

• Quiz on income types
• Written reflection on income sources

Resources

• NC DPI EPF Standards
• IRS income definitions