What happens to A&A when sell IRA/stock assets?

Discussion in 'General Discussion' started by jscott, Apr 20, 2018.

  1. jscott

    jscott Jr. Member

    Thanks to this forum, I was able to successfully apply for A&A for my 93-yr old MIL a couple of years ago and she is currently receiving the max amount, deposited in a fiduciary account.

    Now I have to come back to the forum with a new question about what happens when we sell off her IRA and stock. She's been receiving a small amount of dividends from her IRA and stock (which we'd included as Assets and Countable Income in the A&A application). However, it's got to the point where we really need to liquidate as much as we can to pay her AL expenses.

    I just realized that when she sells the stock (for example, if we sell $11,000 of her stock), this will be reported to the IRS, and VA gets the IRS records to check income eligibility. Her assets go down, but that's a huge addition to her annual income.

    Question: How is this going to affect her A&A? What should we do? Report to VA? Keep our mouths shut and wait for the VA to find out and ask us?

    Second question: What is the this year's current threshold for countable income -- I could not find that quickly on the website -- to estimate how much we could cash in without a VA problem.

    Thanks so much,
    Jackie
     

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