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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI INCOME SOURCES 07/19 CHAPTER I, PAGE 2

• Property (Other In-Kind Income) Non-cash items such as: o Real property o Personal property

2. Relationship of Income to Resources An item received in the current month is income for the current month only. If held by the individual until the following month, that item is subject to resource counting rules. Example Mr. Jones receives a dividend check for $300 at the end of May. He spends $150 immediately and deposits the remaining $150 in his savings account. His income for May is $300. The June 1 evaluation of Mr. Jones' resources includes (for the first time) the $150 he saved. 2.1. Conversion Or Sale Of A Resource Not Income When a resource is sold, exchanged, or replaced, one resource has been exchanged for another. The item received is evaluated as a resource. Receipts from the sale, exchange, or replacement of a resource are not income but are resources that have changed their form. This includes any cash, real property or personal property that is provided to replace or repair a resource that has been lost, damaged, or stolen. Example Jerry Wallace sells his 1974 Plymouth Satellite for $300. The money he receives is not income but a resource which has been converted from one form (a car) to another form (cash). 2.1.1. Verification Verification of the conversion and the new resource is required for resource evaluation. See the chapter that addresses the new resource type.

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Page 11

Official source

DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI INCOME SOURCES 07/19 CHAPTER I, PAGE 2

• Property (Other In-Kind Income) Non-cash items such as: o Real property o Personal property

2. Relationship of Income to Resources An item received in the current month is income for the current month only. If held by the individual until the following month, that item is subject to resource counting rules. Example Mr. Jones receives a dividend check for $300 at the end of May. He spends $150 immediately and deposits the remaining $150 in his savings account. His income for May is $300. The June 1 evaluation of Mr. Jones' resources includes (for the first time) the $150 he saved. 2.1. Conversion Or Sale Of A Resource Not Income When a resource is sold, exchanged, or replaced, one resource has been exchanged for another. The item received is evaluated as a resource. Receipts from the sale, exchange, or replacement of a resource are not income but are resources that have changed their form. This includes any cash, real property or personal property that is provided to replace or repair a resource that has been lost, damaged, or stolen. Example Jerry Wallace sells his 1974 Plymouth Satellite for $300. The money he receives is not income but a resource which has been converted from one form (a car) to another form (cash). 2.1.1. Verification Verification of the conversion and the new resource is required for resource evaluation. See the chapter that addresses the new resource type.