Examples – Lump Sum Additions to Family Assets (One-Time Payment)

JoAnne Wettig won $500 in the lottery and received it in one payment. Do not count the $500 as income. At JoAnne’s next annual recertification, she will report all of her assets.

Mia LaRue, a tenant in a Section 8 property, won $75,000 in one payment in the lottery. She buys a car with some of the money, and puts the remaining amount of $24,000 in the bank. Mia receives her first bank statement and notices that the income on this asset is $205 per month. She must report this increase in income because the family has experienced a cumulative increase in income of more than $200 per month. (See paragraph 7-10 A.4 on rules for reporting interim increases in income.) The owner must perform an interim recertification and count the greater of the actual or imputed income on this asset (since the net family assets are greater than $5,000).