Tax refunds as exemptions in California

[Sigmundcaca]

This is in response to a question asked on a different thread about exempting tax refunds. In California there is a wildcard exemption of approx. $1100 which can be used for any personal property including bank accounts (therefore, tax refunds). In addition to this, you may use any unused portion from the homestead exemption of approx. $20,000. (I remember the total of the two being $21,725).
E.g. if you have $15,000 in equity on property, you can exempt up to $6,725 in other personal properties. I have no real property (homestead) and very few belongings and I am protecting a federal and state refund in excess of $7,000. I called a lawyer on the phone and tricked him into confirming this for me.

[justbroke]

I do like California's System 2 exemptions.

[jribe]

that 20k is why i am glad i don't own a house! I have a 7k refund coming, and have about 5k in savings (that we're living off while husband finds a new job). Plus we have a restored mustang that we're trying to sell (worth about 7k i'd assume)...
So yay for the 20k exemption!

[jennordhavn]

I filed pro se and used CA System 2 for my exemptions. I don't own a home, so I used the wildcard to exempt the balance in my bank account, my anticipated tax refund (although I'm not getting one since my DH owes taxes from 2007) and my earned but unpaid wages.

[GWBcasualty]

I filed pro se and used CA System 2 for my exemptions. I don't own a home, so I used the wildcard to exempt the balance in my bank account, my anticipated tax refund (although I'm not getting one since my DH owes taxes from 2007) and my earned but unpaid wages.

I am planning to use system 2 as well and I am evaluating if to file pro-se. I have 3 questions for you:

1) Did you somewhat itemize all your household goods/furnishings or did you lump all together?

2) Did you wait 3 or 6 months from the last sizable CC transaction?

3) Did you have to deal with any small business reporting?

Thank you and good luck on 30 more uneventful days.

[jennordhavn]

1) This is how I listed my household goods:

#4 I put "Furniture, computer and laptop" $410
#5 I put "DVD collection (appx. 50 titles @ $2/each) & Books (appx. 100 titles @ $.50/each)" $150
#6 I put "Clothing and Shoes" $600
#7 I put "Jewelry" $400

I was going to be more specific, but I was using the adobe fill in forms and it wouldn't take a whole lot of information. I figured I could clarify my answers later if asked, which I never was. I did write out my belongings for my own information and valued each item to come up with the values I used on the schedules. We rent so don't own any major appliances.

2) I didn't have any sizeable CC transactions since I only had two active credit cards at the time I filed, both with small limits. I think I charged coffee at Starbucks a few weeks before filing.....lol. Most of my CCs were charged off 4 years before I filed.

3) No. Sorry I can't help since I don't have any experience with this.