Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 1 - Introduction to Resources
Rule 23-103-1.15 - Distinguishing Resources from Income
Universal Citation: MS Code of Rules 23-103-1.15
Current through September 24, 2024
A. If an individual sells, exchanges, or replaces a resource, what he receives in return is not income; rather, it is a different form of resource.
B. In order to distinguish resources from income, a determination must be on what has occurred and the monetary gain.
C. The monetary gain would be considered a resource when it:
1. Was an
increase in value of an existing resource;
2. Was for the receipt or replacement of a
resource;
3. Was from the
conversion or sale of a resource; or
4. Was a cash or in-kind item for the
replacement or repair of an excluded resource which is lost, damaged or stolen.
(This is discussed further later in this chapter.)
D. Dividends and interest are defined as returns on investments, stocks, bonds, and savings accounts, etc. Refer to the income section for handling.
Social Security Act §1902 (r)(2); 42 CFR §435.601(b) (Rev 1994).
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