Limit to Exclusion for Lump Sum Income Like Inheritance?

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Limit to Exclusion for Lump Sum Income Like Inheritance?

Postby codom233 » Tue Oct 10, 2017 8:01 pm

Q: Topic 33 in the Participant Form Guide of the Data Collection Handbook addresses exclusions from income for lump sum receipt of lottery winnings, awards from lawsuits, insurance payments, and inheritance. If such income is received in a lump sum as a one-time payment, then the payments are not considered income for SCSEP eligibility purposes.

Is there a ceiling or limit to this exclusion, for example, lottery winning/inheritance of $3,500 and higher? We assume that if its an extremely large amount, an applicant wouldn't be interested in SCSEP but we wanted to answer this question for our subs.
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Re: Limit to Exclusion for Lump Sum Income Like Inheritance?

Postby charteroakadmin » Wed Oct 11, 2017 4:37 pm

A: No, there is no limit to the amount of qualifying income that can be excluded under this exception in TEGL 12-06. The only types of excluded income with a limit in the TEGL are Social Security retirement (limited to 25%) and per capita distributions under the Indian Claims Act (limited to $2000).
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