QUESTION

Whose or what specific income should be included in a child support calculation for Colorado?

Asked on Jun 22nd, 2012 on Child Support - Colorado
More details to this question:
The form is rather vague, is there an easier way to interpret what is considered as income? Outside of W-2 wages, are gifts, trust distributions, financial aid from school for parent, etc considered "income" here? What about non guaranteed annual employment bonuses? Is the income just for the individual parent, or for that household if new spouse is in the picture.
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1 ANSWER

Melissa Marks
Colorado Revised Statutes 14-10-115 sets forth the guidelines for determining child support.  It contains all of the information you need to determine what is included.  You can find it at www.michie.com  Generally, gross income includes income from any source except for child support received, government assistance such as food stamps, income from additional jobs that result in more than 40 hours per week, social security received on behalf of the children, etc.  See 14-10-115(5)(a)(II).  Otherwise, gross income includes salaries, wages, tips, commissions, bonuses, dividends, severance, pensions and retirement benefits, royalties, rents, interest, trust income, annuities, capital gains, social security, worker's compensation, unemployment, disability, insurance income, monetary gifts and prizes, taxable distributions, expense reimbursements or in-kind payments, alimony or maintenance, and overtime if overtime is required by the employer as a condition of employment.  See 14-10-115(5)(a)(I). Bonuses can be tricky since they are not guaranteed.  If you have been in the job for a while, you will typically use your prior tax returns as a bench mark.  Only the children's parent's income is considered, not any new spouses. 
Answered on Jul 11th, 2012 at 5:43 PM

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