The CAO will count income from room and board, room rent, and the rental of real property or personal property.
The CAO will count income from room and board, room rent, and rental property as unearned income.
NOTE: For allowable deductions from unearned rental income, see Chapter 360, NMP Deductions, and Chapter 361, MNO Deductions.
Exception: Income from renting real or personal property that is reported to the IRS as a trade or business is treated as self-employment income. (See Chapter 352, Self-Employment.)
The CAO will count income from rental property managed by a rental agency or other third party as unearned income. The individual must have no specific responsibility for managing the property or the capital investment.
NOTE: For allowable deductions from unearned rental income, see Chapter 360, NMP Deductions, and Chapter 361, MNO Deductions.
If the rental property is not managed by a rental agency or other third party, the CAO will count the income from rental property as self-employment income. (See Chapter 352, Self-Employment.)
Reviewed June 12, 2024, Replacing October 30, 2018