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SECTION 1200 INCOME VERIFICATION

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Type of Income Details and How to Verify Include Exclude Donation Unearned. X Farm Income Gross receipts minus operating expenses from the operation of a farm by a person on his/her own account, as an owner, renter or sharecropper. Gross receipts include the value of all products sold, government crop loans, money received from the rental of farm equipment to others, and incidental receipts from the sale of wood, sand, gravel and similar items. Operating expenses include the cost of feed, fertilizer, seed, and other farming supplies, cash wages paid to farmhands, depreciation charges, rent, interest on farm taxes (not state or federal income taxes), and similar expenses. The value of fuel, food or other farm products used for family living is not included as part of net income. X Interest Unearned money received from investments. Use financial statement from paying institution. The first $25.00 in interest is disregarded. X Irregular income Unearned or Earned money that is received on an unpredictable or infrequent basis. Compute quarterly income, divide by 12 weeks to determine weekly average, multiply by 4.3333. X Job Corps Earned income includes Living Allowance, Readjustment allowance. Unearned income includes Allotments sent to a dependent child. X Lottery Winnings Unearned sum of money paid as a prize in a game of chance. Budget in the month of receipt. X Military Allotment Unearned payment paid to spouse or dependent child of military personnel. X National Guard and Reserve Pay Earned Income. Verify with check stub or military documents. X Pension Unearned payment received regularly as a retirement benefit. X Rental Income Earned income received on property owned by a household member and rented to others. Use lease or rental agreement to verify. X