Schedule C help please?

[so-beyond-broke]

Happy Holidays:

I could use some help on how to figure out the Schedule C on exemptions

I am a bit confused about what to put in the 2 columns on schedule C - Exemptions for my car. The amount of exemptions allowed in NY is 2400. I owe 2933 and the car is worth 3135 that leaves me about 200 equity which is covered by the exemption but how do I list this? The last column I would list the car's market value without deducting the exemption = 3135. The other column wants one to list the total exemption allowed 2400. But if I list it this way 3135-2400 then I have about 700 that's not exempt but this is not right because only my equity is 200+ (3135-2933) Do I list just the equity? Will the trustee figure it out if I mess up this Schedule? I got everything else right on the form.

Thanks
sbb

[djk]

value of claimed exemption list $2,400
current value of property without claiming exemption list $3,135
specify law providing each exemption: cite statute number allowing exemption

[so-beyond-broke]

DJK-
I understand that part but how do I explain somewhere on this form that my equity is only 201.00 because I still owe $2900 and not 735.00 which would be the case if I actually owed the car free and clear? Would it be common sense on the Schedule D for secured creditors? I saw some examples on PACER and people who owed money on their vehicles did not list it under Schedule C to exempt, they only listed their cars on Schedule B and D.

value of claimed exemption list $2,400
current value of property without claiming exemption list $3,135
specify law providing each exemption: cite statute number allowing exemption

[djk]

The debt, $2,900, would be listed on D. Your equity does not really matter. Besides, if you owned the car you equity would be the supposed book value of $3,135 and not $735.