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    Question regarding income

    In filing BK I have my gross income and I also get mileage reimbursement by employer.This is in accordance with allowable IRS standards for driving my vehicle on the job.Do I declare this as income and if so can I deduct it as an expense.In doing the means test I didn't see an allowance for this.

    #2
    If you use your vehicle on the job, it is an expense by you reimbursed by your employer so you cannot claim it as an expense.
    _________________________________________
    Filed 5 Year Chapter 13: April 2002
    Early Buy-Out: April 2006
    Discharge: August 2006

    "A credit card is a snake in your pocket"

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      #3
      Originally posted by Flamingo View Post
      If you use your vehicle on the job, it is an expense by you reimbursed by your employer so you cannot claim it as an expense.
      That being said, it can also not be counted as income since it is a reimbursment for funds you have already put out, it would be double counting.

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        #4
        Thanks

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          #5
          But if it shows up in your checking account, won't the trustee(s) question it?

          I'd be afraid they would take that as disposable income. However, I guess it applies to the vehicle ownership expense, and operation expense. If you have an above the IRS standard, car payment and a nice, new car, would they take into consideration that the mileage reimbursement compensates for the higher payment? :-)

          I guess if it is questioned it could be fought.
          March 2009 - Filed Ch 13 April 2009 - 341 Meeting
          Sept 2009 - Confirmed April 2014 Plan completed May 2014 - Discharged!!

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