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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 10 • A description of the assets of the trade or business; • The number of years it has been operating (see 4. Below); • The identity of any co-owners; • The estimated gross and net earnings of the trade or business for the current tax year. 7.3.1. Redetermination Consider current use of the property in the trade or business. Obtain and verify the individual's allegations as to the estimated gross and net earnings of the trade or business for the current tax year for income purposes. 7.3.2. Verification Obtain a copy of the business tax return (i.e., Form 1040 and the appropriate schedules) for the tax year prior to the application or redetermination. Use the return to determine the net earnings from self-employment and validity of the trade or business. The following can be particularly helpful: • Schedule C, Profit or Loss from Business or Profession; • Schedule SE, Computation of Social Security Self-Employment; • Schedule F, Farm Income and Expenses; • Form 4562, Depreciation and Amortization; and • Form 1065, U.S. Partnership Return of Income. If the current tax return is not available, obtain a copy of the latest tax return available. 7.3.3. Questionable Trade Or Business If a trade or business has operated a year or less, use the following to determining if a business or trade exists: • The good faith intention of making a profit or producing income, • Continuity of operations, repetition of transactions, or regularity of activities,