Question about Schedule C "Exemptions"

[mike9302]

The section on the form "Value of claimed exemption"

Is this the amount of you allowed exemption you want to apply to the item or is this the total value of the item?

[soleprop]

mike, i put the amount of the exemption i was using for that item. example, if it is a dresser worth $100 according to ebay or used furniture store prices, i listed the value of claimed exemption as $100 and the section of exemption code that covers it (household goods/personal prop.).

for the sake of balancing the example: if it was a dresser worth $10,000 on ebay or in a used furniture store and the max allowable household exemption for personal property/household goods was $8,000 i would have listed $8,000 - and the trustee would have $2,000 in nonexempt assets to play with in my case.

hope that helps.