RENTAL INCOME (FAM)

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Payments received for rental of apartments, land, or other property.

Rental income that is the result of services performed by the individual is considered self-employment income. See Self-Employment.

Rental income is self-employment income when it results from services performed by the individual.

Treatment: Earned Income

Rental income is unearned income when it results from services managed by a rental agency or by someone other than the individual who receives the income.

Treatment: Unearned Income

Reduce the rental income according to one of the following formulas:

• a flat rate of $50.00 per month for each renter, or

• the actual verified expenses, if higher.

See also Roomer Income and Boarder Income.