Income Guidelines

When you complete your application, you must report all income received by yourself and your spouse.

Required to Report

You must include:
  • Business, farm and rental profits
  • Child support/alimony
  • Department of Health and Welfare payments (Aid for Dependent Children and housing assistance)
  • Disability income from any source
  • Dividends
  • Interest (including bank, escrow, inheritance, even if nontaxable)
  • IRS reportable income
  • Military retirement benefits
  • "Loss of earnings" insurance payments
  • Payments from an IRA
  • Pensions and annuities (except qualified rollovers)
  • Railroad Retirement
  • Social Security/Supplemental Security Income (SSI)
  • Strike benefits
  • Unemployment/workers compensation
  • VA pensions and compensation (Excluding compensation received by a Veteran from the VA who has a 40-100% service connected disability).
  • Wages

Income Deductions

You may deduct the following items from your income:
  • Medical/dental and related expenses (including eyeglasses and prescription drugs) not reimbursed by insurance (Section 213(d) of the Internal Revenue Code)
  • Medical insurance premiums
  • Payment or prepayment of funeral expenses

Payment Deductions

You may deduct the following items you or your spouse paid:
  • Alimony paid
  • Early withdrawal penalties
  • Farm/rental/business losses, and other losses (You must submit a copy of the appropriate federal schedule.)
  • Some IRA contributions
  • One-half of self-employment tax

Not Required to Report

Do not report the following income received:
  • Food stamps
  • Fuel/energy assistance
  • Gifts from friends and family
  • Grocery Credit Refund (Form 24)
  • Inheritance (except interest on the inheritance)
  • One-time lump sum insurance benefits (life, etc.)
  • Principal portion of any payment received from the sale of property
  • Reverse Mortgage Payments
  • VA pensions and compensation if you have a 40% to 100% service-connected disability

Additional Information

For more information, contact: