TN 38 (12-98)
SI 00810.420 $20 Per Month General Income Exclusion
Social Security Act, Section 1612(b)(2);
20 CFR 416.1112(c) and 416.1124(c)
1. Unearned income
We exclude the first $20 per month of any unearned income other than in-kind support and maintenance received in the household of another valued at one-third the FBR (i.e., the VTR), and income based on need (IBON).
Do not increase the dollar amount of this exclusion when both an eligible individual and his/her eligible spouse have income. An eligible couple receives one $20 exclusion per month.
2. Income based on need
Income based on need is a benefit that uses financial need as measured by income as a factor to determine eligibility.
The $20 exclusion does not apply to a benefit based on need that is totally or partially funded by the Federal Government or by a nongovernmental agency.
3. Earned income
If an individual (or couple) has less than $20 of unearned income (other than the VTR and IBON) in a month and also has earned income in that month, the remainder of the $20 exclusion reduces the amount of the earned income.