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0 New Certification 0 Recertification <br />INCOME COMPUTATION AND CERTIFICATION <br />INUe the undersigned state that Vwe have read and answered fully, frankly and personally each of the following questions <br />for all persons who are requesting to occupy the apartment# in <br />1. 2. S. 4. <br />First and Last Name of Members of Relationship of Age Current city of <br />the Household head of residence <br />Household <br />HEAD <br />5. <br />Current city of <br />Employment <br />Income Computation <br />S. The total anticipated income, calculated In accordance with this paragraph, of all persons (except minors under 18 <br />years) listed above for the 12 -month period beginning the earlier of the date that Uwe plan to move Into a unit or sign a <br />lease for a unit is $ <br />Included in the total anticipated income listed above are: <br />a) the full amount, before any payroll deductions, of wages and salaries, overtime pay, commissions, fees, tips and bonuses and <br />other compensation for personal services; <br />b) the net Income from the operation of a business or profession. Expenditures for business expansion or amortization of capital <br />indebtedness shall not be used as deductions in determining net income. An allowance for depreciation of assets used In a <br />business or profession may be deducted, based on straight lino depreciation, as provided in Internal Revenue Service <br />regulations. Any withdrawal of cash or assets from the operation of a business or profession will be Included in income, except <br />to the extent the withdrawal is reimbursement or cash or assets in vested in the operation by the family; <br />c) interest and dividends and other net income of any kind from real or personal property. Expenditures for amortization of capital <br />indabtedness shall not be used as deductions In determining net income. An allowance for depreciation is permitted only as <br />authorized in paragraph (s)(b) of this section. Any withdrawal of cash or assets from an investment will be Included in income, <br />except to the extent the withdrawal is reimbursement of cash or assets Invested by the family. Where the family has net family <br />assets, annual income shall Include the greater of the actual income derleed from all notfamily assets or a percentage of the <br />value of such assets based on the current passbook savings rate, as determined by the Department of Housing and Urban <br />development; <br />d) the full amount of periodic payments received from Soda[ Security, annuities, retirement funds, pensions, disability benefits, <br />and other similar types of periodic receipts, Including any lump sum amount except deferred periodic amounts from <br />supplemental security Income and nodal security benefits that are received in a lump sum amount or In prospective monthly <br />amounts; <br />e) payments in lieu of earnings, such as unemployment and disability compensation, workers' compensation and severance pay; <br />I) welfare assistance. If the welfare assistance payment includes an amount specifically designated for shelter and utilities that Is <br />subject to adjustment by the welfare assistance agency in aceordanca with the actual cost of shelter and utilities, the amount of <br />welfare assistance <br />g) periodic end determinable allowances, such as alimony payments, and regular contributions or gifts reoelved from organizations <br />or from persons not residing In the dwelling; <br />h) all regular pay, special pay and allowances of a member of the Armed Forces except the special pay to a family member serving <br />in the Armed Forces except the special pay to a family member serving in the Armed Forces who is exposed to hostile fire; <br />Excluded from such anticipated income are: <br />1) income from employment of children (including foster children) under the age of 18 years; <br />J) payments received for child support andfor the care of foster children or foster adults (usually persons with disabilities, unrelated <br />to the tenant family, who are unable to live alone) <br />k) lump sum additions to family assets, such as inheritances, willed or monetary gifts, Insurance payments (Including payments, <br />under life, health and accident Insurance), capital gains and settlement for personal or property losses except payments in lieu <br />of earnings, such as unemployment and disability compensation, worker's compensation and severance pay; <br />1) amounts received by the family that are specifloally for, or in reimbursement of, the cost of medical expenses for any family <br />member; Income of a Iive -in aide, <br />m) the full amount of student financial assistance paid directly to the student or to the educational institution (including but not <br />limited to financlal aid, scholarships and grants) <br />