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Established Contributor
Posts: 534
Registered: ‎01-23-2013
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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?
Moderator
Posts: 22,406
Registered: ‎01-17-2008
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Re: Non-taxable income +25% annual income

Senior Contributor
Posts: 3,930
Registered: ‎10-26-2012
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Re: Non-taxable income +25% annual income

You have me shaking my head!!!!

Established Contributor
Posts: 534
Registered: ‎01-23-2013
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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-
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Super Contributor
Posts: 5,371
Registered: ‎03-06-2010
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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

Established Contributor
Posts: 534
Registered: ‎01-23-2013
0

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).
Moderator
Posts: 13,308
Registered: ‎04-15-2011
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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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