2158.Is property needed for self-support excluded from resources?

We exclude certain property from resources on the basis that it is necessary for your self-support. Such property, that may be business or non-business, can be excluded as follows:

  1. Liquid or non-liquid property used in a trade or business and any non-liquid property you use as an employee can be excluded without limit.

  2. Non-liquid non-business income producing property that:

    1. Has an equity value of no more than $6,000 (equity value above $6,000 is countable); and

    2. Produces a net annual return of at least six percent of its excluded equity value.

  3. Non-liquid non-business property that:

    1. Has an equity value of no more than $6,000 (equity value above $6,000 is countable); and

    2. Is used to produce goods or services essential to your daily activities. (For example, land or tools used to produce food solely for consumption by you or your household.)

Note: You cannot exclude liquid non-business property.

Last Revised: Apr. 7, 2003