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Income calculation definitions

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The following tables define each field present for the supported income types:

Pay types for WAGE_EARNER income

The table below lists all supported pay types for WAGE_EARNER income. For details on the captured and calculated fields of each pay type, refer to the wage earner income section.

Pay typeData typeDescription
Bonus IncomestringAdditional compensation that is awarded periodically, not as part of base pay.
Commission IncomestringIncome earned based on sales performance or other incentive metrics.
Hourly IncomestringPay calculation based on an hourly wage multiplied by hours worked.
Military IncomestringSpecific pay types related to military employment, including allowances and bonuses.
Misc IncomestringAny miscellaneous categorized income not falling under the defined buckets.
Overtime IncomestringCompensation received for hours worked beyond standard full-time hours.
Salary IncomestringFixed regular payment, typically paid monthly or biweekly, not based on hours worked.
Shift Differential IncomestringExtra pay earned for working undesirable hours, such as night or weekend shifts.

Income by tax return for SELF_EMPLOYED income

The table below lists all supported pay types for SELF_EMPLOYED income. For details on the captured and calculated fields of each pay type, refer to the self-employed income section.

Income by tax returnData typeDescription
IRS Form 1040 - Individual Income Tax ReturnstringEarnings from business partnerships, typically validated via IRS Form 1065.
IRS Form 1065 - Partnership IncomestringIncome received from partnerships, based on tax filings from IRS Form 1065.
IRS Form 1120 - Regular CorporationstringIncome from regular corporations, reported through IRS Form 1120.
IRS Form 1120S - S Corporation EarningsstringIncome received from S Corporations based on IRS Form 1120S.

Property type for RENTAL income

The table below lists all supported pay types for RENTAL income. For details on the captured and calculated fields of each pay type, refer to the rental income section.

Property typeData typeDescription
InvestementstringMonthly net income from rental properties after adjusting for expenses, taxes, and depreciation.

Income collections for OTHER income

The table below lists all supported pay types for OTHER income. For details on the captured and calculated fields of each pay type, refer to the other income section.

Other income collectionsData typeDescription
Accessory unit incomestringRent from the additional unit (e.g., basement apartment) on residential property.
AlimonystringSupport payments received from a former spouse.
Automobile allowancestringAllowance given for use of personal vehicle for work.
Boarder incomestringIncome from renting part of a residence to a boarder.
Child supportstringPayments received for child care support.
Capital gainsstringRecurring capital gains from investments.
Defined contribution planstringDistributions from retirement accounts like 401(k)s.
DisabilitystringPayments received due to disability status.
Employment related accountstringAccounts established for employment-related benefits.
Foster carestringCompensation for housing foster children.
Housing allowancestringEmployer-provided housing subsidies.
Housing choice voucher programstringSubsidized housing income.
Interest / DividendstringRegular passive income from interest or dividend-bearing assets.
Mortgage credit certificatestringCredit from state/local governments reducing federal tax liability.
Mortgage differentialstringCompany-paid mortgage subsidies for employees.
Non borrower household incomestringIncome from non-borrowers in the same household.
Notes receivable installmentstringIncome from repayments of loaned amounts.
OtherstringAny unclassified income not listed under other defined categories.
Public assistancestringGovernment-provided income support.
Retirement/Pension/AnnuitystringPayments received from retirement savings or pension plans.
RoyaltystringRegular payments received for intellectual property or natural resource rights.
Separate MaintenancestringLegal financial support similar to alimony, but without divorce.
Social SecuritystringSocial Security income, possibly subject to gross-up adjustments.
Temporary LeavestringTemporary wage replacement due to absence from work.
Tip IncomestringIncome received as gratuity, usually in cash or reported on pay stubs.
TruststringRecurring disbursements from a trust account.
UnemploymentstringPayments received during periods of unemployment.
VA Benefits Non-EducationalstringNon-educational veterans’ benefit payments.

Updated 1 day ago