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    Tax refund question?

    Scenario:

    1) Chapter 7 No Asset Case
    2) Case status : Discharged (Awaiting Closing since 20 days)
    2) 341 hearing status: (Unknown since 70 days)

    In schedule A/B I have put expected tax return 5000. In schedule C I have claimed 4000 as exempted.

    Question: Can the trustee take 1000 without first filing objection to exemption?

    #2
    The Trustee doesn't have to object to an exemption when the Estate is still entitled to some portion of the property (money). The Trustee would only object if they believed that your exemption was wrong. So, if you file your 2018 taxes and you have an amount over $4,000, then that amount is property of the bankruptcy estate.

    Did the Trustee ask you about your tax return/refund at your 341 Meeting?
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog


    I am not an attorney. Any advice provided is not legal advice.

    Comment


      #3
      NO trustee has not asked about the tax refund in 341 meetings. The case is discharged and awaiting closing since 25 days.

      Comment


        #4
        It's interesting only in that the Trustee didn't catch that $1,000 difference between the anticipated refund of $5,000 and your exemption of $4,000. If the Trustee doesn't want the money, then they just don't want the money.

        I can't assess why your case has not closed after 25 days post discharge. Most cases autodischarge and autoclose on the same day. Have you checked the Flags in PACER (Case Summary) to see if something is holding up the close?
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog


        I am not an attorney. Any advice provided is not legal advice.

        Comment

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