Count the gross amount, before deductions for Medicare, etc., of periodic Social Security payments. Include payments received by adults on behalf of individuals under the age of 18 or by individuals under the age of 18 for their own support. See Section J below regarding adjustments for overpayment of benefits and Section O for calculating the income for tenants in ICF/MR or ICF/DD projects and assisted living units in elderly projects.
*Example: Mary’s gross social security benefit is $700 per month. The owner calculates annual income by annualizing the gross monthly social security benefit amount.
$700 per month x 12 months = $8,400 gross annual income.*
- J. Adjustments for Prior Overpayment of Benefits
If an agency is reducing a family's benefits to adjust for a prior overpayment (e.g., social security, SSI, TANF, or unemployment benefits), count the amount that is actually provided after the adjustment.
HUD Occupancy Handbook Chapter 5: Determining Income & Calculating Rent
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Section 1: Determining Annual Income
4350.3 REV-1
