BAH as "Income" for credit applications

Discussion in 'Life After the Academy' started by Inquiring_Parent, Jun 4, 2017.

  1. Inquiring_Parent

    Inquiring_Parent Member

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    When filling out credit applications (for apartment or credit card), how does one include BAH? It is technically not "Income" and is worth lots more because it is excluded from "Income Tax".
     
  2. Stealth_81

    Stealth_81 Super Moderator 10-Year Member Founding Member

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    It is income so it's included in "Gross monthly income" on credit applications. BAS should also be included as well as any special pay such as flight pay or sea duty pay.

    Stealth_81
     
    Jcleppe likes this.
  3. Wishful

    Wishful "Land of the free, because of the brave..." 5-Year Member

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  4. Inquiring_Parent

    Inquiring_Parent Member

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    Perfect! Thanks.
     
  5. Humey

    Humey Member

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    Income doesnt have to be taxable to be income
     
  6. Day-Tripper

    Day-Tripper 5-Year Member

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    Credit applications are not income tax returns. Lenders or grantors of lines of credit simply want to know what your resources are for repaying debts. They're people with zero in taxable income who borrow money because they have the means to repay, i.e women collecting child support, people on worker's compensation, etc.

    Include those non-taxable sources of money as "Other Income" on applications and, if needed, provide brief written explanations.