Deduct the following “overhead expenses” for income producing property or self-employment enterprises, when applicable, to arrive at the gross earned or non-earned income:
EXAMPLE: Ms. Jones became disabled and moved in with her daughter. She receives $200.00 a month OASDI, and rents her home for $60.00 a month. Since Ms. Jones' son-in-law actually manages the property, this income is considered non-earned income. She does pay taxes of $240.00 a year and insurance of $96.00 on the property she rents. Her expense of producing this income is $28.00 ($240.00 + $96.00 = $336.00 divided by 12 = $28.00). Her gross unearned income entered on Line 4 of the IM-30A is $232.00 [$200.00 + $32.00 ($60.00 - $28.00)].
NOTE: To determine the gross cash income received from farming, refer to the procedures outlined in Section 1025.015.01 of the December 1973 Eligibility Requirements manual.