Part 5 Income Determination

Thursday, March 10, 2022 - 9:00am

Conquering Compliance - Part 5 Income Determination

Thursday, March 10, 2022

Trainer:  Amanda Gross, V.P., U.S. Housing Consultants

All major affordable housing programs (LIHTC, HUD MFH, and RD) utilize the income determination rules found in 24 CFR Part 5, so it is crucial that affordable housing professionals have a comprehensive understanding of the requirements found in Part 5.

In this 2-hour session, Amanda Lee Gross provides attendees with clear and understandable guidance on how to determine a household’s income using the regulations found in 24 CFR Part 5.

This session will cover the following topics:

• Calculating Income
  • Income Inclusion
  • Income Exclusions
  • Common Income Sources – (e.g., wages, SSI, unemployment, etc.)
• Calculating Income from Assets
  • Assets Inclusion
  • Asset Exclusions
  • Disposed Assets
  • Imputing Asset Income
  • Common Asset Sources – (e.g., checking, savings, retirement, etc.) 

This engaging and interactive session utilizes numerous examples and exercises to ensure attendees complete the session with a thorough comprehension of how to accurately determine income using the Part 5 Method.