Ownership Expense VS Operational Expenese / IRS National Standart for Mortgage

[eltaur2000]

Can you get both of these for Cook county in Chicago this is really high.

Operational ($212)
I'm assuming this is for Gas, Wear tear parking.

Ownership ($496)
I'm assuming this is for Inurance, city sticker, plates and major repairs.

I'm assuming I will get both.

Mortgage and untitlities have a maz of $1267 (1079 actual mortgage) a month.
I'm assuming this for the mortgage only?

There is also a non morgage amount of $496
I'm assuming this for utilities Gas, Light, Cable, and repairs?

I'm assuming I get both numbers.

These numbers are hight it seem like my DMI is going to be super low becuase I live in Chicago.

[LadyInTheRed]

You only get the automobile ownership expense if you have a car loan or lease. This was decided by the US Supreme court recently, so applies to everyone.

You are right about what is included in the mortgage expenses, except that I'm not sure Cable TV is included. But, it might be.

Remember that while you use the local and national standards for Form 22C, you use your actual expenses on Schedule J. So, you could end up with higher DMI on Schedule J than on Form 22C.

[HHM]

LadyInTheRed is right on regarding the vehicles, you only get ownership expenses (car or lease payment) if you are actually making a payment, if not, you only get operation. But, if you have a car payment, then you get both.

Also, for housing, in what context?

Keep in mind, the housing expense is what you claim, then you claim the difference between the allowed housing and your actual mortgage payment in the secured debt allowance on the means test.

[debee]

According to the US Trustee's "Position on the Means Test" , the non-mortgage expense amount covers: maintenance & repair, HOA dues, condo fees, gas, electricity, water, heating oil, bottled gas, trash and garbage collection, wood and other fuels, septic cleaning. Presumably sewer although it's not listed.