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FTOTINCCPS
Constructed total CPS family income
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Description

Available in all survey years, FTOTINCCPS is an IPUMS MEPS-constructed variable that represents the sum of total personal income (INCTOT) (excluding tax refunds and capital gains) across all members of the CPS-defined family.

CPS families are defined as a group of two or more people related by birth, marriage, adoption and residing together. Unlike the MEPS-defined family, CPS family does not include unmarried partners or foster children.

FTOTINCCPS was constructed by summing the public (edited and top-coded) versions of total individual income over CPS family members, as defined by CPSFAMID, to yield CPS family-level total income. Person-level total income amounts comprised annual earnings from wages, salaries, bonuses, tips, commissions; business and farm games and losses; unemployment and workers' compensation; interest and dividends; alimony, child support, and other private cash transfers; private pensions, IRA withdrawals, social security, and veterans payments; supplemental security income and cash welfare payments from public assistance, Temporary Assistance for Needy Families, and related programs; gains or losses from estates, trusts, partnerships, S corporations, rent, and royalties; and a small amount of "other" income. Person-level, and thus family-level, income excluded tax refunds and capital gains.

Beginning in 2007, the variable FTOTVAL was constructed from the person-level total income variable (INCTOT). Additionally, the IPUMS MEPS-constructed variable FTOTINCMEPS offers total family income for MEPS-defined families (includes foster children and unmarried partners). Like FTOTINCCPS, FTOTINCMEPS is constructed from the public (edited and top-coded) versions of total individual income.