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What is the trustee looking for in tax returns?

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    What is the trustee looking for in tax returns?

    I spent last night playing with the numbers and it looks like we'll get about 1100 back from federal, but end up paying about 400 to state.

    Are the trustees looking for huge amounts or are they looking for anything at this point? I don't see how he can really distribute my share of the tax return (since were going to be filing joint), if it will only be half of 1100. It's like throwing pennies into a fountain.
    sigpic
    Filed - 11/19/08;341 - 12/22/08
    Discharged - 2/23/09 ;Closed - 3/6/09
    Got my first post BK credit line - car loan - 4/9/09 On my way to recovery.

    #2
    Yeah, I'd also like to know as I will be filing hopefully in the next 60-120 days!

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      #3
      It all depends on the trustee. My atty said that anything under 1K they don't care about (for my area at least). She was right. I was set to get $400 back from the taxes and I had a $600 ring that she could have auctioned but she didn't. I was right around the 1K mark so I guess it could have gone either way. Thankfully, for once in the whole sordid saga, things went my way.
      11/14/07 -filed C7 12/04/07 -case pulled for random audit.12/18/07 -341 held: Asset case due to engagement ring & tax return.02/19/08 - US trustee files motion to extend. 04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!!

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        #4
        It looks like now that I have hubby's w-2 that it's going to be 1600 from federal but only owe 200 to state. I tried using his last paystub of the year and I didn't have enough information to do it properly. That's a lot more easier to deal with.

        I can't do it separately because of all the stuff we got last year (stimulus credit and so forth). How is the trustee going to look at this since it's a joint return. We figured we'd file federal now and pay the state when we get the money saved up, or is he going to want to see both state and federal at the same time?
        sigpic
        Filed - 11/19/08;341 - 12/22/08
        Discharged - 2/23/09 ;Closed - 3/6/09
        Got my first post BK credit line - car loan - 4/9/09 On my way to recovery.

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