This technical paper summarizes what is known about the receipt of in-kind income; that is, benefits that take a non-cash form. These benefits may be provided by the government (food stamps, Medicare, etc.), or the private sector (health insurance, free housing, etc.). The problem addressed in the paper is the development of a theoretically acceptable, yet empirically implementable, methodology for converting in-kind income into its equivalent cash income from the perspective of the direct recipient. The conversion depends on the preferences of individual recipients and on the precise parameters of the in-kind subsidy. The paper focuses on four types of in-kind benefits (food stamps, public housing, Medicaid, and Medicare) since data on other types of in-kind benefits are sparse. For these four types, impacts across families and across states are sizeable. The paper also discusses how to value the increase in income from in-kind subsidies and it shows how individual recipients may be affected differently by the receipt of in-kind income. Some of the findings include the following: (1) in-kind income makes many persons and families better off, though they may not be better off to the full extent of the provider outlays on the in-kind goods; (2) in order for in-kind income to be treated consistently with cash income the provider cost of in-kind subsidies must be reduced to its cash equivalent value to recipient families; (3) empirical findings show the cash equivalent value of various in-kind subsidies to be significantly below government cost, and (4) the average cash equivalent values will vary sharply across families by income level, family size, and other demographic characteristics. (Author/AM)