PM 08-04-01-c.

Deduct a farm income loss from the FS unit's other earned income and/or unearned income.

Example: The FS unit is made up of a son who farms and a father who receives $500 per month SSA. Figure farm income:

Gross Yearly Farm Income $1,680
Yearly Farm Expenses 1,920
Farm Income Loss (FIL) $ 240
Monthly FIL $240 ÷ 12 = $20
$500 SSA - $20 = $480 monthly budgetable income

On Form 552, enter:

  • the correct 90 code for the father's SSA and $500, and
  • code 358 FIL and $20 in Item 80.