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Even though HUD doesn’t administer the tax credit program, the tax credit law requires owners and managers to use the HUD rules for calculating household income at a tax credit site. As such, when certifying or recertifying housing income, you must include any income the household's assets generate. But, according to HUD rules, how you calculate the income from assets depends on whether the cash value of those assets is more than $5,000 or is $5,000 or less.
