Albert Smith is in the military and receives $3000 a month. In reviewing the LES statement, it is determined that his monthly salary includes $500.00 in hostile fire pay and a housing allowance of $500.00. The annual income is:
Answer: D. Annual income includes all regular pay, special pay and allowances except the special pay to a family member serving in the Armed Forces who is exposed to hostile fire. Exhibit 5-1
When determining the annual income of a household currently residing at Living Oak Apartments, the manager includes $50.00 in groceries delivered weekly from Grandma Josephine, and an additional $200 that is deposited monthly into their bank account. The correct annual income is:
Answer: $2400.00. The weekly amount of groceries is exempt and as stated in Exhibit 5-1 of the 4350.3 HUD Handbook. The cash deposit into the bank account is a verifiable cash contribution and must be included as income to the household.
Dawn is disabled and lives with her 20 year old daughter Jenny, who is a full-time student attending the local college. Dawn receives $530 monthly SSI payments and Jenny earns $480 a month working at the local deli. What is the annual income for this household?
Answer: D. When calculating annual income, you only count $480 annually for full-time students living at home as dependents.
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Albert Smith is in the military and receives $3000 a month. In reviewing t...