quick question on after filing

[B65]

If you received a comission check after filing, is that ok... I know my wild card covers the amount its only small we have not used homstead or wild( we have nothing) but could they say it should have been used as income before filing? ie I am a realtor i closed on one house in april..... I have one pending that may or may not close before christmas........ filed late Oct.

B

[happy_ira]

Forget the pending stuff--may or may not close? As you know, home sales fall through all the time. No one expects you to base your future on *maybe* sales.

The goal of these tests (Means Test) and Schedules (I&J) is to calculate and show "average" monthly income. In theory, how much would this commission increase your average monthly income?

Hypothetically, if your commission check was $50,000, then obviously you would need to revise the test/scheds. But if the commission was something like $500, it changes the avg (over 6 months), to nearly nothing.

For a small amount, I would not submit amended schedules. When/if the Trustee asks "has anything changed recently since filed...?" You can say the truth "Sales are very slow but I got a small commission check of $____, which moves my avg monthyl income fro $x to $y." If the amount is small, I doubt s/he would spend any more time on that. It doesnt sound like a big number.

[B65]

Hi Thanks for the reply

..I just figured seeing as how it was earnings after filing, it did not count but even so the check is small then thats what i will do thanks.

B

[happy_ira]

..I just figured seeing as how it was earnings after filing, it did not count but even so the check is small then thats what i will do thanks.

Someone else will chime in... the strange thing is that the Means test is *backward looking* but the Scheds I&J are *forward looking*.

[PoorGrammyinBK7]

I also am a realtor (no sales here recently ).

I believe though that the only way a commission check counts after filing is if the money was technically earned before filing. I don't consider it earned until the sale actually closes, since before that "anything can happen" and often does!!! But I don't know how that is determined exactly, and it may vary between districts.