Definition of Household Income

Household Income means the Federal Adjusted Gross Income with additions or subtractions of specified taxable and nontaxable income for you, your Spouse or CU Partner, and all Other Persons for the time they lived with you during calendar year 2009.

Example: If a roommate resides from September to December 2009, you include the income he or she received during those months. 

Additions to AGI:

Before the deduction of any trade or business loss, loss from a partnership, loss from a small business or "subchapter S" corporation, loss from a rental property, or capital loss:
(1) alimony received;
(2) support money other than gifts;
(3) gifts of cash or cash equivalents received by the household that exceed $6,500.00;
(4) cash public assistance and relief;
(5) cost of living allowances paid to federal employees;
(6) allowances received by dependents of servicemen and women; (7) the earnings from Roth IRA investment included in distribution but not included in adjusted gross income;
(8) railroad retirement benefits;
(9) payments received under the federal Social Security Act;
(10) all benefits under Veterans' Acts;
(11) federal pension and annuity benefits not included in adjusted gross income;
(12) nontaxable interest received from the state or federal government or any of its instrumentalities;
(13) workers' compensation;
(14) gross amount of "loss of time" insurance;
(15) amount of capital gains excluded from adjusted gross income; (16) income of a Spouse or CU Partner from whom you are not legally separated even if that Spouse or CU Partner does not live in the household;
(17) all income from members of the household that is not specifically excluded below; and
(18) room and board paid to you by a member of the household.

Excluded from Household Income:

(1) Property tax adjustment or renter rebate from the State of VT;
(2) first $6,500 of income earned by a full-time student who qualifies as your dependent;
(3) first $6,500 of income received by a parent who qualifies as your dependent;
(4) first $6,500 of income received by an adult disabled child who qualifies as your dependent;
(5) payment made by the State of VT for foster care pursuant to Chapters 49 and 55 of Title 33;
(6) payment made by State of VT or an agency designated in Section 8 of Title 18 for flexible family funding or adult foster care payments (formerly difficulty of care payments) to an individual for support of an eligible person with a developmental disability as defined under subdivision 8722(2) of Title 18;
(7) gifts from nongovernmental sources;
(8) surplus food or other relief in kind supplied by a government agency;
(9) the contribution portion of a pension or annuity distribution if the contribution was included in adjusted gross income in the year of contribution;
(10) the income of a person living in the household under a written homesharing agreement; 
(11) income of a person living in the household who is a bona fide employee hired to provide personal care to a household member and is not related to the person to whom the care is provided;
(12) income of a Spouse age 62 or older on December 31, 2009 who does not live in the household and has moved permanently to a nursing home or other care facility; and  
(13) income of a person residing with the homeowner who is age 62 or is disabled for the primary purpose of providing attendant care services or homemaker services or companionship services that allow the homeowner to remain in his or her home or to avoid institutionalization.

Subtractions from Household Income:

You may subtract from household income
(1) Social Security and Medicare taxes withheld, and self-employment taxes paid by the individual;
(2) child support money paid if substantiated by receipts or other evidence as required; and
(3) adjustments to Federal Adjusted Gross Income from 1040 Line 36 or 1040A Line 20.

More Information:
- Adjustment Calculator
- Amending
- Buying & Selling Property
- Confidentiality
- Deceased Homeowner
- Definitions
- Delinquent Property Taxes
- Eligibility Requirements
- Extension of Time to File
- General Information
- Household Income
- Incomplete Filings
- Late Filing
- New Construction
- Nonresidential Use
- Offset of Adjustment
- Ownership Situations
- School District Codes
- SPAN
- Special Situations