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Frequent Contributor
Crossdivided
Posts: 436
Registered: ‎01-23-2013

Non-taxable income +25% annual income

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‎03-06-2013 04:44 PM

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?
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guiness56
Posts: 14,520
Registered: ‎01-17-2008

Re: Non-taxable income +25% annual income

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‎03-06-2013 04:45 PM

I have no idea what you are referring to.  25% for what?

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DaBears
Posts: 2,061
Registered: ‎10-26-2012

Re: Non-taxable income +25% annual income

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‎03-06-2013 04:47 PM

You have me shaking my head!!!!

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Crossdivided
Posts: 436
Registered: ‎01-23-2013

Re: Non-taxable income +25% annual income

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‎03-06-2013 04:54 PM

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-
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StartingOver10
Posts: 1,679
Registered: ‎03-06-2010

Re: Non-taxable income +25% annual income

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‎03-06-2013 05:00 PM

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

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Crossdivided
Posts: 436
Registered: ‎01-23-2013

Re: Non-taxable income +25% annual income

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‎03-06-2013 05:03 PM

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).
Starting Score (2/2/13): EQ FICO: 427 / EX FICO (Lender Pull): 518 / TU FICO 519
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Shogun
Posts: 7,598
Registered: ‎04-15-2011

Re: Non-taxable income +25% annual income

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‎03-06-2013 06:07 PM

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

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