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Iowa LIHEAP Policy and Procedures Manual Appendix C – Income Source Guide

Effective 09/01/2023

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Annuities*

A specified income payable at stated intervals for a fixed or a contingent period, often for the recipient’s life.

X

Statement from an investment firm, or bank statement.

Note: Annuities are not considered fixed income.

Note: If an annuity is a defined benefit that doesn’t fluctuate other than a cost of living adjustment, it is considered fixed income.

*Annuities should be averaged over the period of time they are intended to cover. Pro-rate for the verification period selected. Bitcoin

A type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.

X

W-2, Federal Tax Return, or other documentation Burial Accounts A burial fund is money set aside to pay for burial expenses.

X

CACFP (Child and Adult Care Food Program)

CACFP provides aid to child and adult care institutions and family or group day care homes for the provision of nutritious foods that contribute to the wellness, healthy growth, and development of young children, and the health and wellness of older adults and chronically impaired disabled persons.

X

Cancellation of Debt Cancellation of debt on a tax return is excluded from income.

X

Capital Gains Capital gain is a rise in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short-term (one year or less) or long-term (more than one year) and must be claimed on income taxes.

X