Income is the return in money or property derived from the use of principal, including return received as:

1. (1) rent of real or personal property, including sums received for cancellation or renewal of a lease;
2. (2) interest on money lent, including sums received as consideration for the privilege of prepayment of principal except as provided in Section 62-7-410 on bond premium and bond discount;
3. (3) income earned during administration of a decedent's estate as provided in Sections 62-7-408 and 62-7-419;
4. (4) corporate distributions as provided in Section 62-7-409;
5. (5) accrued increment on bonds or other obligations issued at discount as provided in Section 62-7-410;
6. (6) receipts from principal used in business and farming as provided in Section 62-7-411;
7. (7) receipts from disposition of natural resources as provided in Sections 62-7-412 and 62-7-413;
8. (8) receipts from other principal subject to depletion as provided in Section 62-7-414; or
9. (9) receipts from disposition of underproductive property as provided in Section 62-7-415.