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SSI: Can electronics be counted as an asset?

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Old 12-26-2010, 11:36 PM #1
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Default SSI: Can electronics be counted as an asset?
If i owned a tv worth over $2000, would this be counted as an asset and have to be reported?
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Old 12-27-2010, 05:47 AM #2
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Yes.

If you have a $5000 tv, SSI would not consider you truly needy. They would look at it as you could sell it, spend $4000 on items you truly need and still enjoy watching a $1000 tv.

Of course, if someone just gave you a $2000 tv for Christmas and you opened the box and plugged it in, it's now only worth $1200.
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Old 12-27-2010, 09:23 AM #3
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Yes.

If you have a $5000 tv, SSI would not consider you truly needy. They would look at it as you could sell it, spend $4000 on items you truly need and still enjoy watching a $1000 tv.

Of course, if someone just gave you a $2000 tv for Christmas and you opened the box and plugged it in, it's now only worth $1200.
TYM for reply
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Old 12-27-2010, 11:21 AM #4
Mz Migraine Mz Migraine is offline
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Originally Posted by nmbvhjgfyutr2 View Post
If i owned a tv worth over $2000, would this be counted as an asset and have to be reported?
Usually, when someone asks you about assets, they're asking about real estate, cars, bank accounts, investments, stocks, retirement accounts, and if applicable, anything you own that is particularly expensive or unique enough that you have them separately INSURED...like jewels, gold, musical instruments
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Old 12-27-2010, 11:46 AM #5
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Usually, when someone asks you about assets, they're asking about real estate, cars, bank accounts, investments, stocks, retirement accounts, and if applicable, anything you own that is particularly expensive or unique enough that you have them separately INSURED...like jewels, gold, musical instruments
TY, While googleing around the word property came up which left me a little confused. The item in question isn't exactly a TV, but is electronic the same and used for study.
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Old 12-27-2010, 09:45 PM #6
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If i owned a tv worth over $2000, would this be counted as an asset and have to be reported?
no

https://secure.ssa.gov/apps10/poms.nsf/lnx/0501130430
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Old 12-27-2010, 11:28 PM #7
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TY, that put it clear enough.
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