FAA6.N Examples : 25 Unearned Income (UNIN/UNIC ) Examples : V Quarterly Indian Land Lease Income Example
V Quarterly Indian Land Lease Income Example
 
Homer applies for CA and NA benefits in March 2019. He received a quarterly payment of Indian Land lease income in the amount of $950 on January 1.
 
Prior case documentation shows Homer has been receiving these payments every quarter for the last two years. Homer expects to continue to receive this income.
 
Since Homer’s income is received less frequently than monthly it is annualized. For NA, the first $2000 is not countable.
 
Homer’s annual income:
4th Quarter 2017
(Payment received in January 2018)
1st Quarter 2018
(Payment received in April 2018)
2nd Quarter 2018
(Payment received in July 2018)
3rd Quarter 2018
(Payment received in October 2018)
$950
$950
$950
$950
Total annual land lease income $3,800.
The first $2,000 ($166.67 monthly) is countable for CA.
The remaining $1,800 ($150 monthly) is countable for CA and NA.
 
Key the resulting figure as follows on UNIN:
 
Key the LL AP Unearned Income Code in the INC TYP field and $166.67 in the AMOUNT field.
Key the LL BO Unearned Income Code in the INC TYP field and $150 in the AMOUNT field.