OLGT 2019-58: SNAP Capital Gain
Capital gain is an Internal Revenue Service (IRS) term for proceeds from the sale of capital assets (such as stocks, bonds, investments, or a piece of real estate). The gain is the difference between the purchase and selling price minus allowable expenses.
Capital gains from self-employment businesses, from the sale of capital assets related to self-employment businesses, and capital gain distributions are considered countable income for SNAP.
Capital gains from the sale of personal assets are excluded as nonrecurring lump sum income in most situations.
This transmittal pertains to the identification, verification, and processing of various types of capital gains.
|OLGT 2019-58 capital gains - SNAP.pdf (202.36 KB)