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Non-taxable income +25% annual income

Established Contributor

Non-taxable income +25% annual income

Could've sworn I read this somewhere concerning annual income computation but can't find it now, naturally lol...

I thought it was customary to add 25% to nontaxable income...or did I just dream that?
Message 1 of 7
6 REPLIES
Epic Contributor

Re: Non-taxable income +25% annual income

Message 2 of 7
Senior Contributor

Re: Non-taxable income +25% annual income

You have me shaking my head!!!!

Message 3 of 7
Established Contributor

Re: Non-taxable income +25% annual income

Gross income equivalent ie 30k nontaxable = 40k taxable income.

I know I've seen it somewhere but maybe it's not relevant to credit. I can't recall exactly I must be getting old -sigh-
Message 4 of 7
Moderator

Re: Non-taxable income +25% annual income

I have seen it used when qualifying for a mortgage but I don't know if it applies to anything else

Message 5 of 7
Established Contributor

Re: Non-taxable income +25% annual income

Ah ok that must be where I saw it...over on the mortgage forums (which is where this thread probably should have been in the first place...sorry guys).
Message 6 of 7
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Moderator Emeritus

Re: Non-taxable income +25% annual income

Never heard of such a thing.  I guess I need to spend more time over in the mortgage threads.

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Message 7 of 7