I live in SD - We have a 6k head of household personal property exemption and additional 4k personal property exemption for a spouse. So we have a total of 10k in exemption. Everything we own (personal furnishings, camper, equity in vehicles, ect.) only came to about 4k. We would use another almost 3k to cover income earned but not paid. That would leave us 3k to cover any tax return (we estimate it will be 2-3k).
How does that work. Do we need to specifically fill out anything saying we claim that it is exempt or is it just exempt because we have enough exemption to cover it?
I hope my question makes sense?
Our trustee asked to see our paystubs for the payday immediately following filing as he will consider income earned not paid part of the BK estate. Is there somewhere we need to list that income as exempt or will it just be exempt because we have enough exemption to cover it.
How does that work. Do we need to specifically fill out anything saying we claim that it is exempt or is it just exempt because we have enough exemption to cover it?
I hope my question makes sense?
Our trustee asked to see our paystubs for the payday immediately following filing as he will consider income earned not paid part of the BK estate. Is there somewhere we need to list that income as exempt or will it just be exempt because we have enough exemption to cover it.