Three years ago, I purchased an IBM laptop that was a lemon. The mfr is FINALLY going to give me a cash refund of $1832. I have already agreed to purchase a used laptop from someone for the same amount. However, I must also purchase an additional $700 in extra parts and software from this person, bringing the total spent to $2500.
I'm thinking I should probably just list my old laptop with a value of $1800, even though I just shipped it back to the mfr, and then deal with replacing it after I officially file BK.
Otherwise, I will have to show the $1800 as expected income, and the $2500 that I intend to pay as a debt. Or complete the transaction, and show that I paid this person the $1800 plus $700 in cash.
As a freelance writer in CO, I can claim up to $10,000 in office equip exemptions as Tools of the Trade. But the Court still might see this expense as a luxury and deny it as valid.
In case you're wondering about the high dollar amount -- I feel it's a good deal because the cpu can be switched out in the future, it has all the extras I will need while travelling, and it will save me mucho dinero in the long run.
All suggestions appreciated. Thank you!
I'm thinking I should probably just list my old laptop with a value of $1800, even though I just shipped it back to the mfr, and then deal with replacing it after I officially file BK.
Otherwise, I will have to show the $1800 as expected income, and the $2500 that I intend to pay as a debt. Or complete the transaction, and show that I paid this person the $1800 plus $700 in cash.
As a freelance writer in CO, I can claim up to $10,000 in office equip exemptions as Tools of the Trade. But the Court still might see this expense as a luxury and deny it as valid.
In case you're wondering about the high dollar amount -- I feel it's a good deal because the cpu can be switched out in the future, it has all the extras I will need while travelling, and it will save me mucho dinero in the long run.
All suggestions appreciated. Thank you!
Just my opinion of course. But I bought a used laptop 3 years ago for $250 and it's been wonderful. Sure it's not the best/greatest/latest thing in the world, but it's a far cry from $2500 too!
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