form7.com question

[PixieDust]

I'm using thr form7.com software to do our ch7. My question is about security deposits. It's under Schedule B - Personal Property, Security deposits. It's the sec. deposit on our rental. Now, we paid $4000 to move in (first, last AND 1800 pet deposit). Since the deposit is for our pets ($900 per dog), does that count as a sec deposit? Also, it asks for Location of Property. Is this my landlords address??

[HHM]

Generally pet "deposits" are not refundable to you. When it comes to deposits, you need to list only those that could possibly be refunded to you assuming you satisfy all conditions.

[PixieDust]

$900 of that pet deposit is "possibly" refundable, according to our lease. If the home is in perfect condition, which I'm not anticipating (normal wear and tear, ect). So it sounds like I don't need to include this?

[HHM]

Actually, it sounds like you do need to list it. Deposits are your money (hence an asset) until the other party or the contract triggers the transfer. For example, you gave them first and last months rent as a deposit to secure non-payment of rent. However, if you come to the end of the lease and have made every rent payment, you get that money back.

[PixieDust]

Should I just include the last months rent? Also, completely unrelated... It's also asking about other liquidated debts including tax refunds. We did get a tax return for 2004 taxes, but we've already spent it. I'm sure we'll get a return for the 2005 taxes, but I have no idea what it'll be

[HHM]

If you already spent it, don't worry about it. As for 2005, you will want to determine if your state has an exemption that will cover the tax refund (i.e a wild card exemption). If so, then you do want to list it and claim the proper exemption. If not, don't list it, and the trustee will have you submit a copy of your 2005 tax returns when you file them next year and make a determination about what if any refund he is entitled to.

[StaciMM]

Taxes?

So if I file now, and its discharged this year, how will I go about reporting income tax refunds when I won't know how that will work out until Jan/Feb next year?

(I probably will have a refund due to child tax credits, etc. though it won't be as much as last year. Part of my income last year was worker's comp and not taxable.)