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These benefits are to be considered as earned income for non-MAGI (MED 1, 2, 4) AGS. Effective June 1, 2014, combat pay is not to be considered as income. For MAGI (MED 3) AGs, these benefits are not considered taxable income, so are not included in the calculation of MAGI for household income. 2845.65.00 AMERICORPS PROGRAM (MED 1) Payments made from the AmeriCorps Program to AmeriCorps participants or on their behalf are excluded as income. 2845.65.05 AMERICORPS PROGRAM (MAGI) The Segal AmeriCorps Education Awards and Stipend are taxable in the year they are paid. It is considered taxable income regardless of whether it is used to pay current educational costs or to repay qualified student loans. If the applicant/recipient receives an award and the payment is $600 or more during the year, they should receive a Form 1099-MISC. The 1099-MISC will show the amount of the award in box 3, Other Income. The living allowance amount you receive during service is also considered taxable income in the calendar year in which you receive it and is counted in the MAGI budget. 2845.70.00 NATIONAL FLOOD INSURANCE PROGRAM (MED 1) Assistance received under the National Flood Insurance Program for flood mitigation activities with respect to property is not considered income or as a resource for the property owner. 2845.75.00 ENERGY EMPLOYEES’ OCCUPATIONAL ILLNESS COMPENSATION PROGRAM (MED 1) Lump sum payments made under the Energy Employees Occupational Illness Compensation Program for employees who suffered as result of work in the nuclear weapons industry and their survivors are exempt. 2850.00.00 DIVIDENDS, INTERESTAND ROYALTIES Payments of dividends, interest, and royalties are considered unearned income for non-MAGI (MED 1, 2, 4) AGs unless stated otherwise in this chapter and are included as taxable income for MAGI (MED 3) AGs. This includes interest on checking accounts and trust accounts. For MED 1 and 4, interest earned on exempt resources (refer to Chapter 2600) is exempt.