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· Other items needed to produce income; and · Business/commercial checking account o Self-employment funds retain their exclusion for the period they are prorated as income, even when commingled. o Business/commercial checking account funds that are not prorated as income may be excluded as business working capital, business loans, etc. Resources may be excluded for up to one year due to temporary inactivity in the trade or self-employment business. The client must plan to actively return to the same trade/business within one year from the month they are no longer materially participating in the trade/business. If the client does not return to the business, the resources become countable. Exclusions are only applied to property the filing/assistance unit owns. Property owned by a partnership, incorporated business, LLC or other business structure is not excluded as necessary for self-support. PROPERTY IN PROBATE: Excluded; ownership must be evaluated once probate is settled. RESOURCES USED AS COLLATERAL: Count only the equity/accessible portion of a resource used as collateral for a loan. If the lien/agreement contains language specifically stating the resource cannot be sold, it is considered inaccessible. RETIREMENT ACCOUNTS/ PENSION PLANS: A retirement account or pension plan is an investment account that is intended to provide income at retirement. The equity value is the cash value minus any early withdrawal penalty. Clients must avail themselves of periodic payments when that option is available. Excluded when the client is receiving periodic payments, and the account principal is unavailable as a result of these payments. Countable (full account balance) when the client is receiving periodic payments, but the account principal is available as a lump sum. A breakdown from the institution holding the deposit, showing gross deposits and individual deductions as well as penalties for withdrawing the funds is needed to determine the account’s net value. Employment-related retirement accounts: Inaccessible when the individual remains employed with the business/entity holding the account. Countable the day after employment is ended, even when funds are not immediately distributed. 401-K: Excluded when the individual remains employed with the business/entity through which the account was established. Countable the day after employment is ended.