Description

FTOTVAL reports the total income for each person's CPS family.

Beginning in 2007, FAMINC was constructed from the person-level total income variable (INCTOT).

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.

FTOTVAL was derived by constructing person-level total income comprising 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 income excluded tax refunds and capital gains. Person-level income totals were then summed over family members, as defined by CPSFAMID, to yield CPS family-level total income.

Two additional family income variables were created by IPUMS MEPS. FTOTINCCPS is IPUMS MEPS constructed, and offers total family income for CPS families (excludes foster children and unmarried partners). FTOTINCMEPS is IPUMS MEPS constructed, and offers total family income for MEPS families (includes foster children and unmarried partners). Both FTOTINCCPS and FTOTINCMEPS are constructed from the public (edited and top-coded) versions of total individual income)

FTOTVAL is a 6-digit numeric variable with no implied decimals.

999999: Not in Universe

Comparability

There are no comparability issues with this variable.

Universe

Availability

• 2007-2021

Weights

• 2007-2021 : PERWEIGHT

Flags