Income is anything you receive during a calendar month and can use to meet your needs for food or shelter. It may be in cash or in kind. In-kind income is not cash; it is food or shelter, or something you can use to get food or shelter.
Countable Income definition
Countable income is the amount left over after:
- Eliminating from consideration all items that are not income; and
- Applying all appropriate exclusions to the items that are income.
Student earned income exclusion
Of the several income exclusions that may apply, only one — the student earned income exclusion — has maximum amounts which increase with the cost of living as measured by the COLA. This exclusion applies to a blind or disabled child who is a student regularly attending school, college, or university, or a course of vocational or technical training.