Can anyone figure this out? Retirement Plan Exemptions

[starting_over]

I am trying to figure out which exemptions make the most sense and I do NOT have an attorney. I'm looking for the correct thing to site on Schedule C.

The NOLO book says "If you are using state exemptions, cite USC 522 (b) (3) (C) as the applicable exemption"
522(b)(3)(C) code is here:

http://doney.net/bkcode/11usc0522.htm

... however that's Federal code / law ... and we are only supposed to site NRS (Nevada Revised Statues) laws. So I'm confused!

When I read the federal code it seems to indicate that you can't use this if your state says you can't, and Nevada does not allow the use of Federal Exemptions.

I have 3 retirement plan accounts
1. 401k
2. MPP Management Personnel Plan (was formerly a 457)
3. 457 (equivalent of a 401k - very much like a 401k but from a public rather than private organization such as a state/government or non-profit institution that can't offer a 401k)

In Nevada we can only use NRS (Nevada Revised Statues)

Here is one of the sections of the NRS with exemptions

http://www.leg.state.nv.us/NRS/NRS-021.html#NRS021Sec090

[HHM]

For the plans you described, you should be fine quoting NRS 21.090(1)(r) as the exemption statute.

You can site both the state and fed to cover your bases.

[starting_over]

Thanks!

When you say site both the state & fed ... would you site both laws in the applicable law column and write the items only once on the Schedule C, or would you list the items twice on the schedule C and then put the NRS laws on one set & the Fed law citation on the other set?

[HHM]

Thanks!

When you say site both the state & fed ... would you site both laws in the applicable law column and write the items only once on the Schedule C, or would you list the items twice on the schedule C and then put the NRS laws on one set & the Fed law citation on the other set?

Site item once, and both laws in the same box.