Annual Income

Definition: Annual income refers to annual (gross) income, as calculated using one of the three following definitions: - Annual income as defined in 24 CFR 5.609, referred to as "Part 5 annual income" - Annual income as reported under the Census Long Form for the most recent decennial census and - "Adjusted gross income" as defined for reporting purposes under the IRS Form 1040 long form (not IRS Forms 1040A or 1040EZ).