Gift Income

[laurannm]

As I understand it, if you receive a one-time cash gift 6 months prior to filing, that needs to be included as income on the means test.

However, does that also need to be included as other income on your schedule I and/or 22C, if you are pushed into a Ch 13? The cash gift in my situation was a one-time event and is not re-occurring.

Thanks!

[magyar123]

Exactly 6 months prior to filing? Today is May 10. If you plan on filing Nov. 10 you would have to include that amount - if the funds were by check or money order - since it would show up as a deposit on your bank statement. If it's just cash forget it.

[laurannm]

Sorry, what I meant to say was that it was received within the 6 months prior to filing.

So whatever the gift income was, divided by 6, would be used to calculate a Ch 13 plan going forward? I am still a little confused as to whether your schedules are used to determine the plan payment, or the 22c, or both....or does it vary per district