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I received mortgage assistance funds from the Hardest Hit Fund. Does this need to be reported as income?

 
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NicoleU
New Member

I received mortgage assistance funds from the Hardest Hit Fund. Does this need to be reported as income?

You do not have to report funds from the Hardest Hit Fund.

The IRS has determined that the payments made under the State Programs with funds from the HFA Hardest Hit Fund promote the general welfare and are excluded from gross income under the general welfare exclusion.

For more information, you can review the IRS webpage link below:

https://www.irs.gov/irb/2011-11_IRB/ar06.html 


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NicoleU
New Member

I received mortgage assistance funds from the Hardest Hit Fund. Does this need to be reported as income?

You do not have to report funds from the Hardest Hit Fund.

The IRS has determined that the payments made under the State Programs with funds from the HFA Hardest Hit Fund promote the general welfare and are excluded from gross income under the general welfare exclusion.

For more information, you can review the IRS webpage link below:

https://www.irs.gov/irb/2011-11_IRB/ar06.html 


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