What is Income for VA Purposes (IVAP)
There are three Parents DIC Rate Tables, referred to here as Chart 1, Chart 2, and Chart 3. The Charts are different because of the following situations:
Situation | If Yes, See | If No, See |
---|---|---|
A. Are both of the veteran's parents still living? | Chart 2 or 3, also answer B |
Chart 1 |
B. Are both of the veteran's parents still married to each other? | Chart 3 | Chart 2 |
C. Is the parent remarried? | Chart 3 | Chart 2 |
Once on a chart, you will notice that the chart covers an income range. This range varies by Chart. The highest limit is shown at the bottom. Chart 1 refers you to a footnote that explains how to choose the limits that are shown in Chart 2 - $13,456 and Chart 3 - $18,087. Parents DIC is income based. To decide if the parents' income is within the limits of Chart 2 - $13,456 or Chart 3 - $18,087, here are some references:
Link to Regulation | Name of Regulation |
---|---|
38 Code of Federal Regulation 3.251 | Income of Parents |
38 Code of Federal Regulation 3.260 | Computation of Income |
38 Code of Federal Regulation 3.261 | Character of Income; Exclusions and Estates |
38 Code of Federal Regulation 3.262 | Evaluation of Income |
Each Chart has three column headings. Here is an explanation of how these work to determine your actual monthly rate.
Column Headings on Each Chart | Descriptions of How They Are Used | |
---|---|---|
Income Not Over | If your income is not over this amount but is over the amount in the row above, this is the row you should be using. | |
Monthly Rate | This is your beginning monthly rate. You now need to do a calculation for each dollar that your income is over the limit in the prior row. For example: On Chart 3, if your income was $1,353, you would choose the row Income Not Over $1,400. Your beginning monthly rate is $375. But your income is less than $1,400, so you are entitled to a rate between the prior row's rate of $378 and your beginning rate of $375. To find this rate see $1 Decrement below. |
|
$1 Decrement | The decrement is a decimel that is multiplied to the difference between your monthly income and the income shown on the prior row. Using the example above in Monthly Rate, you would subtract the prior rows limit from your income: | |
$1353 -1300 53 53 x.03 1.59 $375 +1.59 $376.59 |
Your income Minus prior row's limit Difference Difference Times the decrement Amount of extra monthly income (do not drop the cents) Your beginning monthly rate Add your extra monthly income Your new monthly rate |
To go to the Parents DIC Rate Tables CLICK HERE
For information about our Parents DIC Benefit CLICK HERE
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