What is Unearned Income?
Unearned income is all income that is not earned income. Some common types of unearned income are: In-kind support and maintenance (food or shelter) given to an individual or received by an individual because someone else paid for it; Private pensions and annuities; Periodic public payments such as Social Security benefits, Railroad Retirement benefits, Department of Veterans Affairs pension and compensation payments, civil service annuities, workers’ compensation, unemployment compensation, and payments based on need involving Federal funds; Life insurance proceeds and other death benefits, to the extent that the total amount is more than the expenses of the deceased person’s last illness and burial paid by the individual; Gifts and inheritances; Support and alimony payments in cash or in-kind; Prizes and awards; Rents and royalties (except those royalties defined as earned income); and Certain payments not considered wages for Social Security purposes: In-kind payments to agricultura
Unearned income is generally defined as any type of revenue gain or income that is not the result of the receipt of a wage, salary, or tips for services rendered. Within this broad definition, unearned income is also understood to be any type of unearned revenue that is collected in advance before contracted services are rendered. This would include deposits on construction or remodeling jobs that will be performed by professionals. At the point that the project is completed and the balance of the charge is paid in full, the deposit or advance would be classified as earned income. For many people, unearned income takes the form of funds received as interest or dividends on an investment. The interest earned on a bank savings account or interest bearing checking account can be properly classified as unearned income, since the account holder did not earn the funds by rendering a service to the bank. In like manner, profits that are earned from stocks, bonds, commodities, or currency exch
This section applies to cash assistance, food assistance, and medical programs for families, children, and pregnant women. • Unearned income is income you get from a source other than employment or self-employment. Some examples of unearned income are: • Railroad Retirement; • Unemployment Compensation; • Social Security benefits (including retirement benefits, disability benefits, and benefits for survivors); • Time loss benefits as described in WAC 388-450-0010, such as benefits from the department of labor and industries (L&I); or • Veteran Administration benefits. • For food assistance we also count the total amount of cash benefits due to you before any reductions caused by your failure (or the failure of someone in your assistance unit) to perform an action required under a federal, state, or local means-tested public assistance program, such as TANF/SFA, GA, and SSI. • When we count your unearned income, we count the amount you get before any taxes are taken out.
This section applies to cash assistance, food assistance, and medical programs for families, children, and pregnant women. (1) Unearned income is income you get from a source other than employment or self-employment. Some examples of unearned income are: (a) Railroad Retirement; (b) Unemployment Compensation; (c) Social Security benefits (including retirement benefits, disability benefits, and benefits for survivors); (d) Time loss benefits as described in WAC 388-450-0010, such as benefits from the department of labor and industries (L&I); or (e) Veteran Administration benefits. (2) For food assistance we also count the total amount of cash benefits due to you before any reductions caused by your failure (or the failure of someone in your assistance unit) to perform an action required under a federal, state, or local means-tested public assistance program, such as TANF/SFA, GA, and SSI. (3) When we count your unearned income, we count the amount you get before any taxes are taken out.
418.3335 What types of unearned income do we count? 418.3340 How do we count your unearned income? 418.3345 How do we determine the value of in-kind support and maintenance? 418.3350 What types of unearned income do we not count? Resources 418.3401 What are resources? 418.3405 What types of resources do we count? 418.3410 Whose resources do we count? 418.3415 How do we determine countable resources? 418.3420 How are funds held in financial institution accounts counted? 418.3425 What resources do we exclude from counting? Adjustments and Terminations 418.3501 What could cause us to increase or reduce your subsidy or terminate your subsidy eligibility? 418.3505 How would an increase, reduction or termination affect you? 418.3510 When would an increase, reduction or termination start? 418.3515 How could you qualify for a subsidy again? Determinations and the Administrative Review Process 418.3601 When do you have the right to administrative review? 418.3605 What is an initial determinatio
