G SEEI Less Than a Year Example

FAA6.N Examples : 26 Self-Employment Income (SEEI/SEEW) Examples : G SEEI Less Than a Year Example

SEEI Less Than a Year Example

Dan applies and is interviewed on February 7. Dan began selling blood plasma on November 20 and meets the self-employment definition. Dan reports and verifies he received the following income:

Month	Income
November	$90
December	$145
January	$175
February	$70
Total	$320
Average	÷2 $160

November is the initial month of income and is a partial month. November’s income is excluded from the average. February is the current month and is a partial month. February’s income is excluded from the average. Dan’s average monthly income is $160. Dan expects the average monthly income of $160 to continue. Budget the average amount as the monthly income.