Pawn Income Definition
Money obtained from a pawnbroker as a loan or from selling personal items.
When participants are pawning personal items, investigate the frequency and whether the money received is from a sale or a loan.
When personal items are used as collateral for a loan, the money received is considered unearned income. (See Loans)
When personal items are sold, the money is considered self-employment income. (See Swap Meets and Yard Sales for additional information)