How to Annualize Five Types of Employment Income
To calculate household income for determining whether a household is eligible at a tax credit site, you’re required to follow the rules set out in HUD Handbook 4350.3. Sections 1 and 3 of Chapter 5 of the HUD Handbook (Determining Income and Calculating Rent) set out the rules you must follow for calculating and verifying income. You should ignore Sections 2 and 4 of this chapter. Section 2 doesn’t apply because it concerns adjusted income, which doesn’t come into play when calculating household income at tax credit sites.