2008 ECONOMIC STIMULUS PAYMENT

How to Determine Qualifying Income

An individual must have at least $3,000 of qualifying income for 2007 or at least $3,000 from any combination of the four types of income described below. Those filing a joint return can add both spouses' qualifying incomes to reach the $3,000 requirement. The four types of qualifying income are:

• Earned income, including wages, salaries, tips and other employee compensation, as well as net earnings from self-employment. Earned income also includes non-taxable combat zone pay, if the recipient of that pay elects to include it as earned income.
• Social Security retirement, disability and survivor's benefits reported in Box 5 of Form SSA-1099. (Note: Supplemental Security Income (SSI) is not qualifying income and is also not included in the amount reported in Box 5 of Form SSA-1099.)
• Railroad Retirement Tier I benefits reported in Box 5 of Form RRB-1099. (Note: None of the benefits reported on Form RRB-1099-R are considered qualifying income.)
• Veterans retirement, disability and survivor's benefits paid by the Department of Veterans Affairs.