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When calculating parental income, Wellesley includes both taxed and untaxed sources of income. Taxed income includes such sources as earned income, interest income, and income from dividends. Untaxed income includes yearly contributions into 401/403 plans, cash flows from businesses and rental properties, corporate profits, and so on. The level of parental income also includes income from the noncustodial parent if parents are no longer together.
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How does Wellesley calculate parental income?
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