Stated Income

A documentation rule where the borrower discloses income and its source but the lender does not verify the amount.

SeeDocumentation Requirements/Stated Income-Verified Assets.

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In addition to these sales, B generates $150,000 of nonseparately stated income.

This case illustrates the need to index the AMT brackets and exemption amounts; to allow regular tax credits against the AMT; to allow more itemized deductions in calculating AMT; and to exempt from the AMT families with regular tax--adjusted gross income under a stated income level.

Middle-class family falls victim to AMT

Industry analysis suggests up to 90 percent of stated incomes are exaggerated by 5 percent or more, and that 60 percent of stated incomes are inflated by more than 50 percent," said Romano.

CoreLogic unveils IncomePro to combat stated-income fraud

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