Question about income

optimist

Junior Member

Bankruptcy Newbie

Joined: Feb 2008

Posts: 23
#1

Question about income

04-15-2009, 07:18 AM

When looking back at income over last 6 months...does the income count when it is deposited in your account or is it when the check is cut?

I had a check for 12,000 from the IRS that I deposited in my account on NOV 1st of last year. OBviously the check was cut earlier than that. If it is counted in November, then I have to wait until June 1st to file. If it is counted when the check is cut, then I can file on May 1st.

What is the rule on this?

Thanks

Filed Ch 7 - 7/29/08-UST prevented 7, converted to 13, paid 3 payments of $1500-2/19/09 converted to 7 UST dismissed w/o prejudice (atty error). Trying again in NJ either May or June with new income #s.
Tags: None
StartingOver08

Senior Member

Bankruptcy Mentor

Joined: Oct 2008

Posts: 4415
#2

04-15-2009, 07:22 AM

The money counts when you receive the payment.

Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..
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optimist

Junior Member

Bankruptcy Newbie

Joined: Feb 2008

Posts: 23
#3

04-15-2009, 07:28 AM

so not when it is deposited?

Filed Ch 7 - 7/29/08-UST prevented 7, converted to 13, paid 3 payments of $1500-2/19/09 converted to 7 UST dismissed w/o prejudice (atty error). Trying again in NJ either May or June with new income #s.
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