Income Calculation Worksheet - Excel

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Income Calculation Worksheet - Excel Powered By Docstoc
					                                                              INCOME CALCULATION WORKSHEET


                                                   Borrower                    Household Member #2           Household Member # 3   Please describe income and/or debt
1. Monthly Employment Income                                                                                                        calculaton method in the space below if you
Base Pay                                                                                                                            are using any calculation method beyond
Overtime                                                                                                                            straight paystub/total debts (for example,
Bonus                                                                                                                               grossing up non-taxable income or
                                   Subtotal                                                                                         excluding certain debts, etc.)

2. Other Income
Part-time Income
Child Support
Alimony
Unemployment Income
Social Security
Tips
Net Rental Income
Dividend Income
Interest Income
Royalties
Pensions
Estates/Trusts
VA Compensation
Public Assistance
VHA/Cola

                                   Subtotal

3. Self Employment Income
Schedule D, F, or E of Form 1040
Add Depreciation
                                   Subtotal

4A. Total Monthly Household Income                                                                                                  List NAMES and AGES of all household
                               Subtotal                                                                                             members below:

4B. Line 4A x 12 =                                                                                                                  Name                              Age
                                   Subtotal

5. If the total income shown on line 4B exceeds the maximum income limit for the country, the applicant is not eligible for the
program offered by Gulf Coast Renaissance Corporation.

NOTE: THIS FORM MUST BE COMPLETED SHOWING ALL GROSS HOUSEHOLD INCOME AND SUBMITTED WITH THE COMPLIANCE PACKAGE.
INCOME FOR ALL HOUSEHOLD MEMBERS AGE 18 AND OLDER MUST BE INCLUDED ON THIS FORM.
ONLY THE FIRST $480 OF EARNED INCOME FOR FULL-TIME STUDENTS, AGE 18 AND OLDER, WILL BE COUNTED TOWARDS THE HOUSEHOLD INCOME.
DISCLAIMER: MORE THAN 3 WAGE EARNERS WILL BE CAPTURED ON AN ADDITIONAL PAGE.