What income is included in the calculation?
The income is referred to as disposable income, which is the income that the person can choose to dispose of how they wish. Most people would think of it as the person’s take-home pay, but this is not always accurate, depending on retirement benefits, and other withholdings from a paycheck. Another case-by-case basis determination.
Related Questions
- Should the value of an immediate annuity be included in the minimum distribution calculation? Additionally, does the income received count towards reducing the required minimum distribution?
- If the homebuyer is separated from their spouse, should the spouse be included in the household size and income calculation?
- Are Food Stamps included or excluded in the household income calculation when determining HPRP eligibility?
