On schedule I, it asks for an estimate of average or projected income at time case filed. I assume that if I file in June, I would use all income from May, correct?
What stinks about this how my salary works. I get a base salary paid to me twice a month. This income never changes.
I also receive a premium check every Friday because I work nights and my shifts are 12 hours long.
Normally, there are only 4 Fridays a month, but in May, there were 5 Fridays, which means I received 5 premium checks.
On line 20 (A) of schedule J, it asks for the average monthly income from line 15 of schedule I.
My question is this: Since there are only a handful of months in the year that actually have 5 Fridays, would the income I made from May actually be my "Average Income"?
One more question about schedule I.
On line 1, it asks for monthly gross wages, salary and commissions. As I was saying early, I receive premium checks each Friday and 2 of the checks list 8 hours of over time on each check, totaling 16 hours. Do I take the overtime pay listed on my pay stub and add it to line 2 "Estimate Monthly Overtime"? Again, for May, since there are 5 Fridays, I received 5 checks and 3 of the checks each had 8 hours of overtime listed, totaling 24 hours. But, this is not average.
Hopefully that all made sense.
What stinks about this how my salary works. I get a base salary paid to me twice a month. This income never changes.
I also receive a premium check every Friday because I work nights and my shifts are 12 hours long.
Normally, there are only 4 Fridays a month, but in May, there were 5 Fridays, which means I received 5 premium checks.
On line 20 (A) of schedule J, it asks for the average monthly income from line 15 of schedule I.
My question is this: Since there are only a handful of months in the year that actually have 5 Fridays, would the income I made from May actually be my "Average Income"?
One more question about schedule I.
On line 1, it asks for monthly gross wages, salary and commissions. As I was saying early, I receive premium checks each Friday and 2 of the checks list 8 hours of over time on each check, totaling 16 hours. Do I take the overtime pay listed on my pay stub and add it to line 2 "Estimate Monthly Overtime"? Again, for May, since there are 5 Fridays, I received 5 checks and 3 of the checks each had 8 hours of overtime listed, totaling 24 hours. But, this is not average.
Hopefully that all made sense.
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