For example, interest-only loans are a popular type of mortgage that are not covered by the QM rule. Many lenders will still originate these loans because there is a demand for such a product. These will probably be the most common loan type under the non-QM umbrella, with high-net-worth borrowers the likely target.
Alimony income. For purposes of making an IRA contribution, taxable alimony income counts as qualifying income. This is a special rule that permits you to build retirement savings in an IRA even if you rely on alimony income for your support. The rule applies only to taxable alimony income, though.
If all three of the following apply, any IRA distributions you received in 2016 may be partly tax free and partly taxable. 1  You received distributions in 2016 from one or more traditional IRAs, 2  You made contributions to a traditional IRA for 2016, and. 3  Some of those contributions may be nondeductible contributions.