How does NYC Housing Lottery calculate income? (employment, college)

[Satyrical]

I have been trying to find this info online but haven't had any luck.

I am wondering how many years do you have to have/hold a job? Does it matter if you had multiple jobs in a year? does it matter if you do odd jobs on the side? Or if you are partly self employed?

I am just wondering because my job history for the past 2 years has bee all over the place. I have always been employed in some capacity but I have had a combination of being self employed and having multiple part time jobs. I also have a little savings. But because of my employment history I am wondering if I would even ever be considered for the housing lottery or if I should just wait until I am a little more consistent.

[WJZ]

They calculate it in any manner that will not be in your best interest. If you try what they get away with, you'll wind up in college upstate, if you catch my drift.

[Kefir King]

They calculate it in any manner that will not be in your best interest.

Horrible, but true.

[Satyrical]

I am asking if you are self employed do they look at 1 years tax returns or more?

If you, have a regular job and have a hobbie, part time self employed or run your own business part time do they take that in consideration and if so do you have to give more tax returns?

I am curious because someone told me if I have a regular job they want 6 months of pay stubs but if i am self employed they want 2 years of tax returns. I am just confused and would like a little more info.

[UnsaltedMixedNuts]

For self-employment income, they want last three years' tax returns and current-year projections for self-employment income. If you are not self-employed or are self-employed and also employed somewhere else, they want your last tax return, last six pay stubs, and third-party verification of your income direct from your employer. @Satyrical: you will have to provide all documents listed since your are both self-employed and employed by someone else.

[Justw8]

I got a letter for an interview - interview is on Thursday. Problem is - I just got a raise September 1 and the raise puts me out of the income guidelines by 300. So it's a wrap for me right? Lol.

[UnsaltedMixedNuts]

Originally Posted by Justw8

I got a letter for an interview - interview is on Thursday. Problem is - I just got a raise September 1 and the raise puts me out of the income guidelines by 300. So it's a wrap for me right? Lol.

Unfortunately, Yes, it is most likely a wrap but you should probably throw a Hail Mary anyway instead of just taking a knee. You never know and you cannot win if you do not try.

However, the problem for you is that the developer (i.e. the interviewer) will take a look at your documents and calculate your income at least three ways based on three different methods. Then the developer will take the highest calculation and use that as your calculated income.

[mangotango]

Can you ask for a $300 pay cut before the interview? When I was called my letter read:

"Pay stub income is calculated both by averaging the pay stubs and projecting the year to date income. The higher of these two amounts will be compared to employer verification and the most recent tax return income. The highest among all sources will be used as employment income."

[Justw8]

Originally Posted by mangotango

Can you ask for a $300 pay cut before the interview? When I was called my letter read:

"Pay stub income is calculated both by averaging the pay stubs and projecting the year to date income. The higher of these two amounts will be compared to employer verification and the most recent tax return income. The highest among all sources will be used as employment income."

I work for the city so...