To determine if you’re eligible for savings, we need to ask about your income. Click to view a list of acceptable types.
Learn about types of income to report
Generally, if a person includes an income source on their federal tax return, enter it here. Refer to IRS instructions on income for special situations.
Here we ask only for each person’s current monthly income. Later, we’ll show you a yearly income estimate based on that amount. You’ll be able to adjust that estimate to account for changes you expect during the coverage year.
Report income from these sources:
- Jobs, including wages, salary, tips, commissions, bonuses, and severance pay
- Self-employment – income from a small business you run or from freelance, consulting, or contract work
- Unemployment compensation
- Pensions from former employers
- Social Security
- Capital gains
- Investments, like interest on savings or dividends from stocks or mutual funds
- Retirement, including withdrawals from most 401(k) and IRA accounts
- Alimony
- Farming or fishing
- Rental or royalty
- Other income, like canceled debts, court or jury duty pay, cash support, gambling, prizes, awards, taxable scholarships, and grants
Don’t report income from these sources:
- Proceeds from loans (like student loans, home equity loans, bank loans, or personal loans)
- Child support
- Veterans payments
- Workers compensation or injury damage awards
- Supplemental Security Income (SSI)
- Gifts, regardless of amount
- Federal tax refunds and credits, like the child tax credit payments
How to handle a type of income you’re not getting this month
- Don’t select it from the drop-down menu.
- If your application shows income you aren’t getting this month, remove it using “Remove.”
- You can later adjust your yearly income estimate if you expect a different income total.
Income for clergy or religious order members
Members of the clergy or religious orders should enter only the income they include on their federal income tax return.
Learn about the kinds of expenses you can report
This person can deduct these expenses (known as deductions) from their income.
You can select these expenses:
- Student loan interest
- Alimony payments
- Other expenses:
- IRA contributions
- Educator expenses
- Penalty on early withdrawal of savings
Someone self-employed should account for business expenses when entering net self-employment income. They shouldn’t enter business expenses here.
If this person has tax deductions not listed here—such as charitable donations, child or dependent care, mortgage interest, property taxes, or state income taxes—don’t enter them. Select “Skip” to move forward.
