Definition
Total household income includes:
(1) wages and salaries, tips, and bonuses, etc.,
(2) net profits from farming and from non-farming,
(3) property.income such as property rent, land rent, royalties, interest, and dividends,
(4) current transfer received such as assistance payments, pensions, etc.,
(5) non-money income (income in-kind) such as the value of goods and services received as part of pay, home-produced and consumed (including the rental value of owner occupied dwellings), or received free from other sources, and
(6) other money receipts such as insurance proceeds, lottery winnings and other windfall
receipts.
Current income is the total household income excluding other money receipts.