T New Source of Income Example

FAA6.N Examples : 26 Earned Income (EAIN/EAIC) Examples : T New Source of Income Example

Jim applied and was interviewed on 03/17. Jim reported starting a new job and the scheduled pay dates are bi-weekly on Fridays. Jim provided verification that the first check will be received on 03/24 for $106.25 (21.6 hours) and regular ongoing wages will be $212.50 (43.2 hours).

For MARCH, key the following on EAIC:

INC TYPE: WA		FREQ: AC		NUMBER OF PERIODS:
PERIOD	DATE PAID		HOURS	HR. RATE	GROSS AMOUNT
01	03/24		21.60		106.25
DOC: Jim began work at hula Sam’s on 03/10. His 1st pay is for $106.25. He expects to be paid again on 04/07. CC verified on 03/17.

For APRIL and ongoing months, key the following on EAIC:

INC TYPE: WA		FREQ: BW		NUMBER OF PERIODS:
PERIOD	DATE PAID		HOURS	HR. RATE	GROSS AMOUNT
01	03/24		21.60		106.25
DOC: CC with Hula on 3/17. He expects that Jim will be working 21.6 hours per week.