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need help with means test question

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    need help with means test question

    We own both our cars , since we dont have car payments can we still take the " Vehicle Ownership or Lease Expense " on the menas test
    ( question 23 ) ? I took the " Vehicle Operation Expenses " deduction but wasnt sure about the Vehicle Ownership or Lease Expense since we dont owe anything on them.

    #2
    Have the same question also . . . any answers from any one?

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      #3
      Nope. Can only claim this expense if your auto is secured by a debt. Click on the link below (or copy and paste in your browser) and read the "Background" section.

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        #4
        vaslimkat,
        The link you forwarded actually contradicts what you said. The judge ruled for the debtor and accepted the vehicle expenses (read the last few lines of the document).
        Thanks!

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          #5
          I was in the same situation. I own my car outright and I could only claim vehicle operation expenses (gas, repairs, etc.) and not ownership or lease expenses because I don't have a car note. That's how my paperwork was filed.
          Filed Chapter 7 (Primarily Business Expenses) 04/10/2008 FICO 468 :cry:
          341 on 05/06/08:unsure:House appraisal on day 63:blink: 07/10/2008 Discharged-Asset Case!!!:yahoo:08/09 Transu 559, Equifax 636, Experian 647
          Case Closed 07/15/2009 :D:yahoo:

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