Employment Lawyers Can Answer Your Employment Law Questions
Yes, you must report all income from whatever source if you are applying for unemployment unless it is specifically excluded. Any type of rental income would have to be reported as it is not specifically excluded.
If someone owned one or two houses but was not in the "rental business" if they didn't have to report the rental income, they could have a sizable total income from the houses and the combined unemployment benefits. So both legally and logically, you have to report the income.
If you fail to report it as income or misrepresent facts to obtain benefits, you can be penalized for up to 52 unpaid weeks. The penalty remains in effect until it is satisfied or up to five years. You must also pay back the benefits and face other penalties that could include a jail sentence if the agency finds out about it and decides to file unemployment fraud or fraudulent receipt of benefits charges.
Of course, they would have to find out about it from someone if you chose not to disclose it. But this typically happens if a boyfriend or girlfriend of the renter gets mad at renter and then reports the owner as a way to get back at their significant other because of the family ties.
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I understand that all the rules and regs can be confusing. But yes, you have it correct, all income, unless specifically excluded, has to be included.
Financial aid loans are not considered income because they have to be repaid. Grants are also not considered income as long as they are used for educational purposes (fees, tuition, books, etc.)
Gifts aren't income either. Worker's compensation doesn't disqualify someone from receiving unemployment benefits, but it may reduce the amount. A settlement is not considered income that would disqualify you as settlements aren't considered income unless they include past and future wages, then that portion would be considered income.
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