HUD Forms
This form is used to document tenant income and rent calculations.
What is Form HUD-50058?
This type of student assistance is excluded from annual income calculations under HOTMA.
What is Title IV financial assistance?
Real estate owned by the family but not occupied is classified as this.
What is an asset?
This deduction amount is standard for elderly or disabled families.
What is $525?
Tenant rent is generally calculated as this percentage of adjusted income.
What is 30%?
This section was updated in HOTMA that combines the total of cash values of $50,000 or more
What is assets?
Earned income for a dependent full-time student is included only beyond this threshold.
What is $480?
PHAs must assess asset values at this frequency.
What is annually?
This type of expense is deductible if it’s necessary for a parent to work, attend school, or seek employment.
What is childcare expense?
If utility allowances exceed tenant payments, this is provided to tenants.
What is a utility reimbursement?
PHAs are required to submit this form at least this frequently.
What is annually?
When a family’s net assets exceed $50,000, this is used to calculate income from assets.
What is the HUD-determined passbook rate?
Income from retirement accounts not accessible until withdrawal is considered this.
What is excluded?
Medical expenses exceeding this percentage of income are deductible.
What is 10%?
The minimum rent amount typically set by PHAs under HOTMA.
What is $0?
This section was updated were total is now 6K +7G
What is Income?
This income category includes compensation from employment or self-employment.
What is Earned income?
This type of asset, when held in a trust, is excluded from net family assets.
What is an irrevocable trust?
This deduction is specific to dependents and is set at $480 per dependent.
What is the dependent deduction?
If a family’s income slightly increases during the year, rent adjustments are made at this time.
What is at the next reexamination?
What is line 8f?
This category of public assistance income is always included in annual income.
What is welfare or TANF?
Vehicles used for daily transportation are classified as this for rent calculation purposes.
What is an excluded asset?
This deduction is exclusive to elderly or disabled households and applies to medical expenses.
What is the medical expense deduction?
This payment is charged if the family’s TTP is less than the minimum rent.
What is the minimum rent?