HUD Handbook 4350.3 § 5-4

A.      Annual income is the amount of income that is used to determine a family’s
                eligibility for assistance. Annual income is defined as follows:

                1.       All amounts, monetary or not, that go to or are received on behalf of the
                         family head, spouse or co-head (even if the family member is temporarily
                         absent), or any other family member; or

                2.       All amounts anticipated to be received from a source outside the family
                         during the 12-month period following admission or annual recertification
                         effective date.

        B.      Annual income includes all amounts that are not specifically excluded by
                regulation. Exhibit 5-1, Income Inclusions and Exclusions, provides a list of
                income inclusions and exclusions published in the regulations and Federal
                Register notices.

        C.      Annual income includes amounts derived (during the 12-month period) from
                assets to which any member of the family has access.