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EVR Question for income
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Topic: EVR Question for income (Read 228 times)
Red Headed Mommy
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Posts: 19
EVR Question for income
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December 05, 2011, 01:44:38 PM »
I am starting to pull together information to complete our first EVR (which I am expecting to receive the form very soon)...I have 2 questions...
1. For the first time this year, my father in law received a dividend check of $117 from his VA life insurance policy. Since he had not received this in the past, I did not include this on his application. Do I need to include this as income even though it is non-taxable income? If I need to include this, do I need to include this as income change for item 7(c) on the EVR VA Form 21-0516-1?
2. On the A&A application, we estimated an annual income for gas royalties at $50 per month-specifying these as non-regular payments. The actual amount for the year is averaging $29 per month. Do I need need to explain this in section 7(c) as an income change in the past 12 months or merely list the actual income for the verification in section 7(b) to coincide with my original application. I guess I am really trying to figure out how you handle issues where you estimated for the application and the actual numbers are different.
Thank you for all of your great work!
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Fit2009
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Posts: 249
Re: EVR Question for income
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Reply #1 on:
December 05, 2011, 03:23:09 PM »
Hi, You include them both as actually occurred and explain the difference.
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