TN 91 (08-24)

SI 01120.005 Distinguishing Resources from Income

A. Introduction

It is important to distinguish between resources and income to know which counting rules to use for any given month. An item is not subject to both income and resources counting rules in the same month.

B. Policy principles

1. Income - Counting Rules

Items received in cash or in kind during a month are evaluated under the income-counting rules.

2. Resource - Counting Rules

Items retained as of the first moment of the month following receipt are subject to evaluation under resource-counting rules.

C. Example

1. Situation

Thompson, a single, disabled SSI recipient, received $275 as a birthday gift in January. They used $50 to repay a loan; spent $100 for a Series EE U.S. Savings Bond; and put the remainder ($125) in their savings account. As of February 1, the account balance was $1,400.

2. Analysis

The $275 gift was income to Thompson in January when they received it. In February, only $125 of the cash gift counts as a resource; the remaining $150 they spent or converted into another form in the same month they received it. The U.S. Savings Bond is not a resource in February since Thompson cannot legally redeem it for 6 months. However,it will become a resource on August 1, when it is first legally redeemable. The $125 that they put in their savings account is a resource (along with the $1,275 deposited previously) as of February 1.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0501120005
SI 01120.005 - Distinguishing Resources from Income - 08/01/2024
Batch run: 08/01/2024
Rev:08/01/2024