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Administrative Plan 7/1/2025 Page 7-40 <br />7-III.G. NET INCOME FROM RENTAL PROPERTY <br />SAHA Policy <br />The family must provide: <br />A current executed lease for the property that shows the rental amount or <br />certification from the current tenant <br />A self-certification from the family members engaged in the rental of property <br />providing an estimate of expenses for the coming year and the most recent IRS <br />Form 1040 with Schedule E (Rental Income). <br />If Schedule E was not prepared, SAHA will require the family members involved <br />in the rental of property to provide a self-certification of income and expenses for <br />the previous year and may request documentation to support the statement <br />including: tax statements, insurance invoices, bills for reasonable maintenance <br />and utilities, and bank statements or amortization schedules showing monthly <br />interest expense. <br />7-III.H. FEDERAL TAX REFUNDS OR REFUNDABLE TAX CREDITS <br />[Notice PIH 2023-27] <br />PHAs are not required to verify the amount of the family’s federal tax refund or refundable tax <br />credit(s) if the family’s net assets are less than or equal to the HUD-published threshold listed in <br />HUD’s current year Inflation-Adjusted Values tables ($50,000 for 2024, $51,600 for 2025), even <br />in years when full verification of assets is required or if the PHA does not accept self- <br />certification of assets. PHAs must verify the amount of the family’s federal tax refund or <br />refundable tax credits if the family’s net assets are greater than the HUD-published threshold. <br />7-III.I. RETIREMENT ACCOUNTS <br />SAHA Policy <br />SAHA will accept an original document from the entity holding the account dated no <br />earlier than 12 months before that reflects any distributions of the account balance, any <br />lump sums taken, and any regular payments. <br />EXHIBIT 1