Tuesday Tip: HOTMA Tidbits on Form, Deduction Changes

Posted On: August 3, 2023

In this week’s #TuesdayTip, more discussion on the documents, forms, and deductions changing under the HOTMA rule.

Changes under HOTMA

HUD Forms and Documents
Income Inclusions & Exclusions
Interim Recertification requirements
Annual Recertification requirements
Asset Inclusion & Exclusions
Asset verification & method used to determine income from assets
EIV Reporting Requirements
Changes to other Deductions such as the
- Dependent, Childcare, &
- Elderly/Disabled Family Deduction
- Medical Expense Disability Assistance Expense Deductions

Previously, the series covered the background on HOTMA, Key Changes, and other forms changing under the new rule.

HUD is updating the following forms to reflect required changes under HOTMA:

HUD–50059
HUD-50059A
HUD 9834
HUD Model Leases
Resident Rights and Responsibilities Brochure
HUD Handbook 4350.3

Again, HOTMA will also use the software TRACS 203A. Please contact your vendor or provider to make sure your software will be up to date by January 1, 2024.