HUD's List of Sources of Income

1. Wages and salaries. The full amount, before any payroll deductions, of wages and salaries, overtime pay, commissions, fees, tips and bonuses, and other compensation for personal services.

2. Net income from operation of a business or profession. Any withdrawal of cash or assets from the operation of a business or profession will be included in income, except to the extent the withdrawal is reimbursement of cash or assets invested in the operation by the family.

3. Interest, dividends, and other net income of any kind from real or personal property. Any withdrawal of cash or assets from an investment will be included in income, except to the extent the withdrawal is reimbursement of cash or assets invested by the family.

4. Periodic amounts. This income is received from Social Security, annuities, insurance policies, retirement funds, pensions, disability or death benefits, and other similar types of periodic receipts.

5. Payments in lieu of earnings. Unemployment, disability compensation, worker's compensation, and severance pay are categorized here.

6. Welfare assistance.

7. Periodic and determinable allowances. These include alimony and child support payments, and regular contributions or gifts received from organizations or from persons not residing in the dwelling.

8. All regular pay, special pay, and allowances of a member of the Armed Forces (except as provided in paragraph (7) under Income Exclusions).

9. For Section 8 programs only, any financial assistance, in excess of amounts received for tuition, that an individual receives under the Higher Education Act of 1965, from private sources, or from an institution of higher education, is considered income to that individual, except for persons over the age of 23 with dependent children. (Note: This also does not apply to a student who is living with his or her parents who are applying for or receiving Section 8 assistance.)

—Compiled from HUD Handbook 4350.3, Exhibit 5-1