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form 122A-1 - one family gifts (divide by 6 then x 12 ??)

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    form 122A-1 - one family gifts (divide by 6 then x 12 ??)

    Working on Form 122A-1 - statement of current monthly income

    No income from job in last 6 months, yet received one or two family gifts during that period of $5000.

    I suppose i report this on line 10 - 'income from other sources'.

    So do i then divide that 5000 by 6 to get $833? ... and then multiply that by 12 for the annual income in line 12b? = $9996

    Or do i multiple $5000 x 12 and get $60,000

    Which would make no sense at all since i never got $60,000 or half of that. just $5000

    I also ahve to add in some other things seen as income and it will push me over the state medium to a 'presumed' abuse. Yet.... thats not at all what reality was.

    Im hoping its 'add up total income numbers and divide by 6 then multiple by 12' . otherwise.... eeekk

    #2
    Do you have a guidebook? If not, I highly recommend getting one.

    Income is calculated monthly. I have a fixed income, but still used a spreadsheet to list income for each of 6 months, and then used the SUM function to add them all up.

    Example only...
    July -- $5,000
    August -- $0
    September -- $0
    October -- $5,000
    November -- $5,000
    December -- $5,000

    6-month Total $20,000
    Average Monthly $3,333.33
    12-month projected $40,000

    Also, I moved this to Pro Se section.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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