What is countable income for veterans pension eligibility purposes?
This includes income received by the veteran and his or her dependents, if any, from most sources. It includes earnings, disability and retirement payments, interest and dividends, and net income from farming or business. There is a presumption that all of a child’s income is available to or for the veteran. VA may grant an exception in hardship cases. What about net worth? Net worth means the net value of the assets of the veteran and his or her dependents. It includes such assets as bank accounts, stocks, bonds, mutual funds and any property other than the veteran’s residence and a reasonable lot area. There is no set limit on how much net worth a veteran and his dependents can have, but net worth cannot be excessive. The decision as to whether a claimant’s net worth is excessive depends on the facts of each individual case. All net worth should be reported and VA will determine if a claimant’s assets are sufficiently large that the claimant could live off these assets for a reasonab
Related Questions
- My wife does not work outside our home and therefore will not have pension income that normally results from employment income. How can we set up a retirement income plan for her?
- I am eligible for the Ohio Veterans Bonus. How is this bonus income treated for income tax purposes?
- What is countable income for veterans pension eligibility purposes?
