The Section 8 Series - Part 1: Calculating Earned and Unearned Income, Excluding Assets

Income Calculations

This course focuses on the income calculations that must be understood in order to calculate income eligibility and rent for the subsidized housing programs covered by the 4350.3 Multifamily Housing Handbook. We discuss the requirements regarding annual income and the process for calculating a family’s annual income to determine eligibility. This includes an expansive discussion of earned income and unearned income, excluding assets. In addition, this course covers the requirements for verifying information necessary to determine income eligibility and rent. Throughout the course, participants are provided with opportunities to practice these calculations and apply the lessons learned.

This course is designed for participants who are new to subsidized housing and who currently work, or have a desire to work, at a subsidized multifamily housing site, as well as those who have been in the industry for a long time but would like a refresher.

Specific income topics covered in this course include:

  • Annual Income Inclusions and Exclusions
  • Whose Income Is/Isn’t Included; Methods of Calculating Income
  • Regular Employment Income; Sporadic Employment Income
  • Self-Employment
  • Alimony and Child Support
  • Annualizing Unearned Income Amounts
  • Unemployment
  • Social Security and Supplemental Security Income (SSI)
  • Adjustments to Annual Income after Prior Overpayment
  • Lump Sum Payments Included as Annual Income
  • Delays in Income versus Disputes in income
  • Income from Training Programs
  • Zero Income

Overlying Concepts
Introduction
The 4350.3 and HUD's Directive System
Types of Income
Verification
Consent Forms
Acceptable Methods of Verification
Effective Term of Verifications
Specific Requirements for Verification
Annual Income
Calculating Gross Annual Income
Rounding Guidance
Income to be Counted
Topic Test
Earned Income
Employment Income
Calculating Gross Employment Income
Calculating an Anticipated Increase
Seasonal Employment
Employment Verification
Calculating Average Income from Verifications
Annual Income from Self-Employment and Business
Special Considerations for Military Pay
Topic Test
Unearned Income Excluding Income From Assets
Unearned Income
Unemployment Income
Child Support and Alimony
Social Security Benefits and Public Assistance
Lump Sum and Periodic Payments
Tenant Service Stipend
Income from Course Programs
Gifts and Contributions
Zero-Income Households
Topic Test
Online
$199
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