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10-148 Chapter 6 page 15

regular support from an absent Family member or someone not living in the household; g. Unemployment insurance and worker’s compensation; h. Strike benefits from union funds; i. Regular cash income received from earned interest, dividends, royalties, estates, and trusts; j. The value of any property (real or intangible) in which there is an unrestricted right to immediate use, possession, or enjoyment of the property (or the income from it) even if the right is not exercised; k. Interest income received from all loans and notes such as personal loans, secured loans (includes real estate mortgages), installment contracts, and interest-only loans. Loans of this nature usually require periodic payments of constant amounts over the life of the loan. The amount of the loan principal (return of capital) is considered an Asset and shall not be included in Gross Income. The recognized gain on sale amount of the loan repayment shall be included in Gross Income. This determination shall be made in accordance with IRS regulations; l. Child support and alimony payments, including the pass through and gap supplements received by TANF clients. Money deducted or diverted from court-ordered support or alimony to pay household expenses is also counted as income; m. A Child support lump payment is counted as part of income and averaged over the number of weeks that Child support is in arrears; n. Income from ownership of rental property, excluding IRS deductible business expenses; o. Income from capital gains Capital gains are the profit from the sale of real and personal property such as a residence, land, income producing property, investment property, capital equipment, stocks, and bonds. If property is sold prior to the date of the application in the same calendar year, the profit realized from the sale is pro-rated through the end of the calendar year. If property is sold after a family is determined eligible, the profit realized from the sale is pro-rated over the remaining eligibility period. p. Regular general assistance cash payments from municipalities that are not made directly to vendors such as a landlord; q. Regular money contributions from persons determined not to be Family members;