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List of Taxable vs. Not Taxable Income | Liberty Tax®
Aggregate income is the sum total of the income amounts from all applicable records. Wage and Salary Income includes income from wages, salaries, tips, etc (see line 7 on the form 1040). Interest Income includes taxable interest income and the non-taxable interest income (see lines 8a and 8b in the form 1040).
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[DOC File]ADJUSTED GROSS INCOME WORKSHEET
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Household income means the estimated gross income for all household members 18 years of age or older, for the calendar year 2019 based on current annualized gross amounts of income from any source, both taxable income and non-taxable income, including, but not limited to: earnings, overtime, IRA distributions, part-time employment, bonuses ...
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[DOC File](The following list was taken from DHCD guidelines)
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Other Non-Taxable Income or (Loss) ... If it is anticipated that the amount of taxable income you will report will be greater or less than the sum of the earned income, interest, etc. shown above, enter an amount (positive or negative) to be used to increase or decrease the calculated income. For example, if you have “phantom income” from a ...
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[DOC File]Supplemental Documentation
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The actual amounts of the borrower’s non-taxable income should not be adjusted in in line 38. g. Past Credit Record- Item 45. Indicate whether the borrower (and spouse, if applicable) is a satisfactory or unsatisfactory credit risk based on a complete analysis of credit data.
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[DOC File]CHAPTER 2
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Treat income from all sources equally; that is, the fact that all or part of an applicant’s income is derived from any public assistance program is not treated as a negative factor, provided the income is stable and reliable. e. Income from Non-Military Employment Verification: General Requirement. Verify a minimum of 2 years employment.
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List of non taxable income