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household income. Total income from all people living in a particular household. Income refers not only to the salaries and benefits received but also to receipts from any personal business, investments, dividends and other income. Furthermore, household members do not need to be related to be part of a household.
The adult income earners in the family combine their gross (before taxes) annual salary or wages they earn together. For example, if the husband makes $50,000 a year, and the wife makes $60,000 a year, they have $110,000 annual household income. BrokerPro Â· 9 years ago.