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Thread: Net Income ?

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    Default Net Income ?

    Hello everyone,
    So I'm buying a house and I have to figure out my "net income" -- I know this includes deductions for taxes, but does this also include deductions for rent, living expenses etc.? Some help please!! Thanks! E

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    Default Re: Net Income ?

    For your purposes, 'net income' equals gross reported income to the IRS minus income taxes paid.

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    Default Re: Net Income ?

    Thanks Melonie! That's what I thought---just wanted to check! Best, E

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