602-2 F. Conversion or Sale of a Resource

Conversion or sale of a resource occurs when a resource of any form is exchanged for a resource of another form (i.e., a liquid resource exchanged for a non-liquid resource or vice versa).  Conversion would also occur by exchanging a non-liquid resource for another non-liquid resource (e.g., an individual may trade an automobile for a pickup truck).  Any conversion or sale of a resource does not represent income to the recipient.  For example, an individual may have an automobile (non-liquid resource) which he sells for $300 (liquid resource), or he may have $300 that he uses to purchase an automobile.  In either case, the conversion or sale does not result in income to the recipient.  The newly acquired item (whether liquid or non-liquid in nature) is a resource subject to all the resource criteria for continuing eligibility.