Prior Calendar Year: The total income from the calendar year (Jan 1 – Dec 31) immediately preceding the calendar year in which the (Except Hostile Fire Pay). The first is a simple single-step income statement with all revenues and expenses lumped together. There will be some wage earners with wages that vary from pay period to pay period. Calculate wages from straight time, overtime, double-time. The method referenced above using “Payroll Frequency Code” is best for those persons with regular and consistent wages. Calculate and record how the calculation of each income Income Calculation Worksheet. Income Calculation Worksheet Instructions Definitions : ast 12 MonthsP : The 12 months immediately preceding the month in which the application is made. If the result of Step 2A or 2B is negative, include the amount of the loss in the borrower’s monthly expenses when calculating the DTI ratio. Other Income Self Employed Income Rental Income Rental Loss $ % YTD Year Borrower #2 Total Qualifying Income Borrower #1 Total Qualifying Income Attach Income Calculation Worksheet Paid Bi-weekly Non-Taxable Income Base Pay Income Calculations Attach Income Calculation Worksheet (If not using income worksheet page 2) By: Bryan Lecy Notes. This worksheet will determine the Tenant Rent Payment based on the greater of 10% of Monthly Gross Income or 30% of Monthly Adjusted Income. If you need to calculate the income of more than one person, use a separate worksheet for each person. Salary income calculation worksheet The regular income fields can take simple math instructions, so that additional math is not needed to input the income.
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