Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 104 - Income
Chapter 7 - Sources and Treatment of Unearned Income
Rule 23-104-7.34 - Rental Income
Universal Citation: MS Code of Rules 23-104-7.34
Current through September 24, 2024
A. Rental income is defined as follows:
1. Rent is payment that a
person receives for the use of real or personal property, such as land, housing
or machinery.
B. Rental income is treated as follows:
1. In
determining Medicaid eligibility for at-home and institutional categories,
consider net rental income.
2. Net
rental income is gross less the ordinary and necessary expenses paid in the
same taxable year.
a) Net rental income is
counted as unearned income unless it is earned income from self-employment
(such as someone in the business of renting properties).
b) Ordinary and necessary expenses are those
necessary for the production or collection of rental income and generally
include:
1) Interest on debts;
2) State and local taxes on real and personal
property and on motor fuel;
3)
General sales tax;
4) Expenses of
managing or maintaining the property.
Social Security Act §1902 (r)(2); 42 CFR §435.601(b) (Rev 1994).
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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