Validating value of personal property

[peterk201]

Is it common to add an attachment sheet to the schedule where you note your personal property and its current market value explaining HOW you determined that value, OR is it enough to take records of how you obtained that value with you to the meeting with the trustee?

(Can anybody attempt to explain my other question?)

[mmcconn2]

When you value your personal property, rule of thumb is use garage sale values, you do not want anything to look to valuable.

[HHM]

No, you don't have to file and attachment explaining how you came to the values. (Although, this will change under the new law if its enacted)

[peterk201]

Thanks for the insight. And By the way, I used the final sale price of similar goods sold on eBay for some of the property value. That way, I could have a record of the estimate if I needed it.