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The amount reported by the family in the certification appears obviously in error. <br />Example 1: An elderly participant reported a $10,000 certificate of deposit at the last <br />annual reexamination and SARA verified this amount. Now the person reports that she <br />has given this $10,000 to her son. SARA has a reasonable estimate of the value of the <br />asset; therefore, reverification of the value of the asset is not necessary. <br />Example 2: A family member has disposed of its 1/4 share of real property located in a <br />desirable area and has valued her share at approximately 5,000. Based upon market <br />conditions, this declaration does not seem realistic. Therefore, SARA will verify the <br />value of this asset. <br />7-III.F. NET INCOME FROM RENTAL PROPERTY <br />The family must provide: <br />A current executed lease for the property that shows the rental amount or certification <br />from the current tenant. <br />A self certification from the family members engaged in the rental of property providing <br />an estimate of expenses for the coming year and the most recent IRS Form 1040 with <br />Schedule E (Rental Income). If schedule E was not prepared, SARA will require the <br />family members involved in the rental of property to provide a self certification of <br />income and expenses for the previous year and may request documentation to support the <br />statement including: tax statements, insurance invoices, bills for reasonable maintenance <br />and utilities, and bank statements or amortization schedules showing monthly interest <br />expense. <br />7-III.G. RETIREMENT ACCOUNTS <br />SARA will accept written third-party documents supplied by the family as evidence of the status <br />of retirement accounts. <br />When third-party verification is not available the type of original document that will be accepted <br />depends upon the family member's retirement status. <br />Before retirement, SARA will accept an original document from the entity holding the <br />account with a date that shows it is the most recently scheduled statement for the account but <br />in no case earlier than 6 months from the effective date of the examination. <br />Upon retirement, SARA will accept an original document from the entity holding the account <br />that reflects any distributions of the account balance, any lump sums taken and any regular <br />payments. <br />After retirement, SARA will accept an original document from the entity holding the account <br />dated no earlier than 12 months before that reflects any distributions of the account balance, <br />any lump sums taken and any regular payments. <br />~~02~12 Page 7-18 <br />