INCOME-IN-KIND (AAM) |
Previous Policy |
____________________________________________________________
Goods, commodities, or services provided as compensation or contribution in lieu of cash. Income-in-kind is considered either unearned or earned income-in-kind.
Unearned income-in-kind is a contribution which does not represent compensation for a job performed.
Treatment: Excluded Income
Earned income-in-kind represents compensation received for work performed (employed by another or self-employed) in place of, or in addition to, wages, profit, or payment in cash.
Treatment: Earned Income
Assign a dollar value to earned income-in-kind received on a regular basis. Determine the dollar value using one of the following methods:
. employer statement indicating the frequency and dollar value of the earned income-in-kind;
. multiply the number of hours worked times the approximate hourly wage as provided by the employer; or
. multiply the number of hours worked times the current minimum hourly wage, if self- employed or the employer is unable to provide an approximate hourly wage.