Selling Guide

Published April 07, 2021

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What obligations identified on a paystub are not included as liabilities?

Monthly Obligations Not Included in Liabilities

Some obligations, often identified on a borrower’s paystub, are not considered a liability and will not be included as a debt or deducted from the borrower’s gross income when calculating the borrower’s debt-to-income ratio. These obligations include items such as

  • federal, state, and local taxes;
  • Federal Insurance Contributions Act (FICA) or other retirement contributions, such as 401(k) accounts (including repayment of debt secured by these funds);
  • commuting costs;
  • union dues; and
  • voluntary deductions.

For additional information, see B3-6-01, General Information on Liabilities.

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