Schedules

[debtrelief08]

What schedule do you use to exempt your tax return?

[lrprn]

You don't use one of the schedules to exempt your income tax refund. Your state bankruptcy exemptions are what decides if you can keep all, some, or none of your tax refund.

In almost all areas of the country, income tax refunds do NOT count into your income either. Most of the time it's primarily made up of money you earned before the six-month lookback to calculate your income for the Means Test and Schedules.

[HHM]

Assuming you have an exemption to cover the tax refund, you would list the Tax Refund as an Asset on your Schedule of Assets and then list the corresponding exemption.

[debtrelief08]

Thank you for that information i went to see a lawyer last night and she was like we will make some correcttions. She was kind of rushing me maybe because my appt was at 5 pm she must normally get off earlier than that. She keep saying Mark (who i assume is the paralegal) was going to take care of this. he was not in our meeting because he was not feeling well. We did not talk about fees or anything we just went over what i filed with the courts she even commented that i did a good job completing them on my own. She did tell me that Indiana only allows for $300.00 exemption for cash so there is no way to know if i can keep all of my stimilus or not just have to see what the trustee says. I still need to amend my schedules f and c. The funny thing is she said to coming to pay the installments for the filing. i plan to call as soon as they open to speak to this Mark so i can tell him that i really do not understand what exactly he is going to do for me I will follow up with you all on that

As far as the settlement for my son she made it seem as if it is not a big deal since it is all going in trust for him and to get money from the trust it requires a petition so that is not a big deal. i am less worried since i talked to her but it still raised more questions.