Get Family Name Family Member - Nan Mckay And Associates

Filling out the Family Name Family Member form is a crucial step in managing your earned income disallowance calculations effectively. This guide provides clear, step-by-step instructions to assist you in completing the form accurately.

Follow the steps to complete the form with ease.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. Enter your family name in the designated field where prompted.
3. Input the name of the family member for whom you are calculating the earned income disallowance.
4. For A1, enter the total earned income of the family member in the corresponding field.
5. In A2, add any earned income already included in the pre-qualifying income.
6. Calculate the increase in earned income by subtracting A2 from A1, and enter the result in A3. If the result is zero or negative, stop here and do not exclude any earned income.
7. For section B, enter any other income received by the family member, including income generated from assets.
8. Calculate the total annual income in section C by adding A1 and B together, then input that figure.
9. In section D, indicate the pre-qualifying income as required.
10. Determine the full exclusion amount in section E by subtracting section D from C, but ensure it does not exceed the increase in earned income reflected in A3.
11. If applicable, calculate the 50% exclusion during the phase-in period for section F by multiplying section E by 0.50.
12. Provide the EID family member’s earnings in section G, referring to the HUD 50058 form.
13. Record the exclusion from section E or F in section H, depending on which applies.
14. Calculate the earned income after exclusions in section I by subtracting the amount in H from the amount in G.
15. Review all entries for accuracy, then proceed to save your changes, download the completed form, print it, or share it as needed.

Complete your documents online today for a smooth filing experience.