Income from selling things may mess up our 6 month average :(

[CCBmama0f3]

I posted on another group about this strange way I buy/sell things using paypal. I don't actually make money but the fact that it is technically income I may have to use this. I have "technically" made $1900.00 in paypal over the last 6 months. It was buy/selling/trading baby items and the only way I make money is to sell the items and buy more to sell (at or below the price I bought them, easy way to try lots of different stuff without buying it all together) and I have stopped all spending-thus no incoming transactions. We will probably be right at the median for our state. If by some odd chance we were slightly over can it be proved that this was non- taxable income and definitely not permanent or stable income. Are they very strict about being right at or below the median? We have a high debt/income ratio and I doubt we can swing a chapter 13.

On another note we live just on the border of MD/DE and MD has $10,000 a year more median than we have and we both work in MD and spend most of our money in MD. It just stinks!

[AlmostAmos]

What PayPal income???

-AA

[CCBmama0f3]

$1900.00 is how much baby stuff I have sold using paypal as a secure way to collect money from the buyer. It's just a secure way to send and receive money from people. Since I have occasionally deposited money from my pp account into my checking and used if for christmas or bills I will probably have to count it.

[newbie2]

Yes, you have to count it. However make sure you are counting only the income (subtracting out your expenses - the purchases).

[Freddy03]

Being over the median doesn't mean you don't qualify for Ch. 7.

Do you have a positve DMI?

[BKOnce]

If you hide $$ in Paypal Act# like rich people hide $$ in Swiss Foreign Bank to hold on... can trustee find out?? (Paypal username account & balance is confidential/secret to outsiders too?)

[daylate]

You definitely had income. From what you describe you bought stuff at $x and sold for $x plus a profit. The profit is income less any selling expenses.Unlike if you were selling kids stuff you no longer needed or wanted at a loss. If you made a profit on your own stuff that too is profit.

[JEM]

You definitely had income. From what you describe you bought stuff at $x and sold for $x plus a profit. The profit is income less any selling expenses.Unlike if you were selling kids stuff you no longer needed or wanted at a loss. If you made a profit on your own stuff that too is profit.

The way I read it, she wasn't making a profit.

(at or below the price I bought them, easy way to try lots of different stuff without buying it all together)

[CCBmama0f3]

I was definitely not making a profit.lol I sold everything for what I paid for or less and didn't even charge pp fees so I lost money everytime. But I will include my purchases to show I never profited money. But even though they weren't neccessary purchases will it still help me out?

What is DMI?

[CCBmama0f3]

What is DMI?

Nevermind, got it Do you calculate your DMI with your Gross income or Net income? The means test is with your Gross income correct? If you look at how much we really bring home we are way under the DMI, but using gross we may be over I haven't completely filled out my DMI sheet from the lawyer yet.

[JEM]

I was definitely not making a profit.lol I sold everything for what I paid for or less and didn't even charge pp fees so I lost money everytime. But I will include my purchases to show I never profited money. But even though they weren't neccessary purchases will it still help me out?

What is DMI?

Disposable monthly income

Amount left over after all of your allowed expenses.

[JEM]

Nevermind, got it Do you calculate your DMI with your Gross income or Net income? The means test is with your Gross income correct? If you look at how much we really bring home we are way under the DMI, but using gross we may be over I haven't completely filled out my DMI sheet from the lawyer yet.

Means test will use gross income, BUT there is a place to allow for taxes taken out.

[CCBmama0f3]

Means test will use gross income, BUT there is a place to allow for taxes taken out.

Ok well with taxes and insurance included in our expenses we are definitely under. Is there a link as to what expenses to include? The sheet my lawyer gave me didn't include alot of stuff and I hope I'm not leaving expenses out

[daylate]

I was definitely not making a profit.lol I sold everything for what I paid for or less and didn't even charge pp fees so I lost money everytime. But I will include my purchases to show I never profited money. But even though they weren't neccessary purchases will it still help me out?

What is DMI?

My bad- i thought you were making a profit-if not no income. Don't include it. Just be able to show what you bought it for and what you sold it for if it comes up.

[CCBmama0f3]

So even thought I did buy something else with the money but didn't profit from it I'm safe to not consider it income. I'm just so scared I will not disclose something and be penalized but I have nothing to hide. No money made at all!