Household Income and Expenditure Survey 2005
Micronesia, Fed. Sts., 2005
Created on
Jul 10, 2013
Last modified
Mar 29, 2019
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Interest income (interest)
Data file: Person
Overview
Valid:
0
Invalid:
0
Type:
Continuous
Decimal:
0
Start:
263
End:
268
Width:
6
Range:
-
Format:
Questions and instructions
Question pretext
26 The following questions are about income received during 2004. If an exact amount is not known, accept a best estimate. Report dollar amounts ONLY; do not report cents - if cents are reported, round to the nearest dollar amount.
Literal question
26e How much did ... receive in interest, dividends, royalty income, or income from estates and trusts?
Interviewer instructions
GENERAL INSTRUCTIONS FOR INCOME QUESTIONS 26 TO 27
1. CONVERT TO ANNUAL TOTAL
Be sure that the dollar amounts represent the total amount received during the 12 months of 2004 for the particular type of income. If, for example, the amount is given in terms of a weekly or monthly payment, find out how many weeks or months it was received in 2004 and convert it to an annual total.
2. USE OF INCOME TAX FORM
Accept answers from an income tax form if the person offers them. Do not, however, ask the respondent to refer to income tax forms.
If an income tax form is used, make certain the amounts you enter for each person are for that person only; many income tax returns show the combined income of husband and wife. Also remind the respondent that certain types of income are not taxable (for example, unemployment compensation and public assistance). Ask whether the person received any such additional money income in 2004.
If Form 1040 contains the combined income of husband and wife, find out what share was received by each person.
3. WHAT TO DO IF A RESPONDENT IS UNWILLING TO ANSWER INCOME QUESTIONS
a. Stress Confidentiality
If the respondent fears that the income data will be disclosed to other persons or to other government agencies, explain that you, as well as other census employees, are sworn to keep the answers confidential. The law provides penalties of imprisonment and fine for disclosures. Not even agents of the Federal Bureau of Investigation (FBI) or the Internal Revenue Service (IRS) can look at census records. Explain that data about individuals are never published; only statistical summaries of groups of people are published and only in a way that no individual can be identified.
b. Explain Why Tax Returns Alone Are Not Enough
If the respondent does not understand why the data cannot be obtained from income tax returns instead of being asked in the census, explain that the income data given on tax returns cannot be used to meet all statistical needs because not all people file returns and not all kinds of income are taxable (and hence are not reported on tax returns).
Also, the tax returns do not show age, family relationship, education, and other items needed to study the social and economic status of the people of FSM.
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1. Interest - Money received or credited to a person's account by institutions such as a bank for the use of money. Notes, bonds, deposits in banks and savings and loan associations, credit unions, and postal savings certificates are the most common sources of interest. Include interest accruing to a savings account, regardless of whether the person actually withdrew the interest.
2. Dividends- Payments made by corporations and mutual funds to stockholders.
3. Net rental income - The total money received from the rental of property of real estate, or from roomers or boarders, less all rental expenses.
a. Net income of property (including farm property) is cash rent received from property less the expenses incurred by the landlord in connection with the property. Expenses include depreciation, taxes, repairs, insurance, interest paid on mortgages, fees paid for a real estate agent's commissions, etc.
b. Net rental income from roomers and boarders is the total cash receipts less all expenses, such as the cost of food served to boarders, laundry, share of the rent used to pay the wages of a housekeeper for cleaning, share of the rent used to pay for the house, (or the estimated share of the taxes, depreciation, interest, etc.).
4. Net royalty income - Include net royalties which consist of gross royalties less deductions. Gross royalties include income from oil, gas, and other mineral rights, income from patents, copyrights on literary works, trademarks, formulas, and so on. Deductions against gross royalties are made for depletion, depreciation, office rent, legal fees, clerical help, interest, taxes, and similar items.
5. Estates and trust funds - Periodic payments received from estate or trust fund.
1. CONVERT TO ANNUAL TOTAL
Be sure that the dollar amounts represent the total amount received during the 12 months of 2004 for the particular type of income. If, for example, the amount is given in terms of a weekly or monthly payment, find out how many weeks or months it was received in 2004 and convert it to an annual total.
2. USE OF INCOME TAX FORM
Accept answers from an income tax form if the person offers them. Do not, however, ask the respondent to refer to income tax forms.
If an income tax form is used, make certain the amounts you enter for each person are for that person only; many income tax returns show the combined income of husband and wife. Also remind the respondent that certain types of income are not taxable (for example, unemployment compensation and public assistance). Ask whether the person received any such additional money income in 2004.
If Form 1040 contains the combined income of husband and wife, find out what share was received by each person.
3. WHAT TO DO IF A RESPONDENT IS UNWILLING TO ANSWER INCOME QUESTIONS
a. Stress Confidentiality
If the respondent fears that the income data will be disclosed to other persons or to other government agencies, explain that you, as well as other census employees, are sworn to keep the answers confidential. The law provides penalties of imprisonment and fine for disclosures. Not even agents of the Federal Bureau of Investigation (FBI) or the Internal Revenue Service (IRS) can look at census records. Explain that data about individuals are never published; only statistical summaries of groups of people are published and only in a way that no individual can be identified.
b. Explain Why Tax Returns Alone Are Not Enough
If the respondent does not understand why the data cannot be obtained from income tax returns instead of being asked in the census, explain that the income data given on tax returns cannot be used to meet all statistical needs because not all people file returns and not all kinds of income are taxable (and hence are not reported on tax returns).
Also, the tax returns do not show age, family relationship, education, and other items needed to study the social and economic status of the people of FSM.
-----------------------------------------------------
1. Interest - Money received or credited to a person's account by institutions such as a bank for the use of money. Notes, bonds, deposits in banks and savings and loan associations, credit unions, and postal savings certificates are the most common sources of interest. Include interest accruing to a savings account, regardless of whether the person actually withdrew the interest.
2. Dividends- Payments made by corporations and mutual funds to stockholders.
3. Net rental income - The total money received from the rental of property of real estate, or from roomers or boarders, less all rental expenses.
a. Net income of property (including farm property) is cash rent received from property less the expenses incurred by the landlord in connection with the property. Expenses include depreciation, taxes, repairs, insurance, interest paid on mortgages, fees paid for a real estate agent's commissions, etc.
b. Net rental income from roomers and boarders is the total cash receipts less all expenses, such as the cost of food served to boarders, laundry, share of the rent used to pay the wages of a housekeeper for cleaning, share of the rent used to pay for the house, (or the estimated share of the taxes, depreciation, interest, etc.).
4. Net royalty income - Include net royalties which consist of gross royalties less deductions. Gross royalties include income from oil, gas, and other mineral rights, income from patents, copyrights on literary works, trademarks, formulas, and so on. Deductions against gross royalties are made for depletion, depreciation, office rent, legal fees, clerical help, interest, taxes, and similar items.
5. Estates and trust funds - Periodic payments received from estate or trust fund.
Description
Universe
For persons 15 years old and over