(a) General. Resources determinations are made as of the first moment of the month. A resource determination is based on what assets an individual has, what their values are, and whether or not they are excluded as of the first moment of the month.
(b) Increase in value of resources. If, during a month, a resource increases in value or an individual acquires an additional resource or replaces an excluded resource with one that is not excluded, the increase in the value of the resources is counted as of the first moment of the next month
(c) Decrease in value of resources. If, during a month, a resource decreases in value or an individual spends a resource or replaces a resource that is not excluded with one that is excluded, the decrease in the value of the resources is counted as of the first moment of the next month.
(d) Treatment of items under income and resource counting rules. Items received in cash or in kind during a month are evaluated first under the income counting rules and, if retained until the first moment of the following month, are subject to the rules for counting resources at that time.
(e) Receipts from the sale, exchange, or replacement of a resource. If an individual sells, exchanges or replaces a resource, the receipts are not income. They are still considered to be a resource. This rule includes resources that have never been counted as such because they were sold, exchanged or replaced in the month in which they were received. See § 416.1246 for the rule on resources disposed of for less than fair market value (including those disposed of during the month of receipt).
Example:Miss L., a disabled individual, receives a $350 unemployment insurance benefit on January 10, 1986. The benefit is unearned income to Miss L. when she receives it. On January 14, Miss L. uses the $350 payment to purchase shares of stock. Miss L. has exchanged one item (cash) for another item (stock). The $350 payment is never counted as a resource to Miss L. because she exchanged it in the same month she received it. The stock is not income; it is a different form of a resource exchanged for the cash. Since a resource is not countable until the first moment of the month following its receipt, the stock is not a countable resource to Miss L. until February 1.[52 FR 4283, Feb. 11, 1987]
Notes of Decisions
Lopes v. Dep't of Soc. Servs., 696 F.3d 180 (2d Cir. 2012).
· cites it 3× “For example, the Commissioner cites 20 C.F.R. § 416.1207 (e), which provides: “If an individual sells, exchanges or replaces a resource, the receipts are not income.”
Miller v. Ibarra, 746 F. Supp. 19 (D. Colo. 1990).
· cites it 2× “31 and 20 C.F.R. § 416.1207 (d). Section 3.200.3 provides: “DISTINGUISHING RESOURCES FROM INCOME .”
Roloff v. Sullivan, 772 F. Supp. 1083 (N.D. Ind. 1991).
· cites it 2× “Since the first day or the month rule is an SSI standard, 20 C.F.R. § 416.1207 (a), Indiana’s option for that standard need not be measured against the state’s procedures in 1972.”
Frerks v. Shalala, 52 F.3d 412 (2d Cir. 1995).
“See 20 C.F.R. § 416.1207 (a). Frerks argues that the settlement funds were not available for his support and maintenance because he could not convert them into cash in hand absent a court order, the grant of which was beyond his control.”
Indiana Dep't of Pub. Welfare v. Payne, 592 N.E.2d 714 (Ind. Ct. App. 1992).
“Since the first day or [sic] the month rule is an SSI standard, 20 C.F.R. § 416.1207 (a), Indiana’s option for that standard need not be measured against the state’s procedures in 1972.”
Katz v. Harris, 493 F. Supp. 1304 (S.D.N.Y. 1980).
“20 C.F.R. § 416.1207 . Technically, plaintiff’s savings were subject to a single resource disregard in the period in which the ALJ applied a joint exclusion, but equitable considerations led the ALJ to treat plaintiff and her daughter as a savings unit, as long as it was…”
Palmer v. Sullivan, 799 F. Supp. 400 (D. Vt. 1992).
· cites it 2× “This amendment was based on 20 C.F.R. § 416.1207 (a) which, together with 20 C.”
Evenson v. Minnesota Dep't of Human Servs., 489 N.W.2d 256 (Minn. Ct. App. 1992).
“20 CFR § 416.1207 (a) (1990). The regulations do not suggest that market value should be determined based on the property’s potential.”
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