Tax returns

[Walangatik]

I was curious to know why does the trustee need to see our tax returns? What information are they specifically looking for?

Thanks.

[justbroke]

They are looking for REFUNDS. Seriously, they are looking for income patterns, whether you are getting refunds (and the average of those refunds), and anything else that would validate your petition. For example, if you claim to not have a business, but on your Tax Return, you're claiming business on Schedule C!

[dspii]

Money................its always about the money. They are looking at your refunds, if any, and they will claim any non-exempt part of your 2009 tax return, if you are due a refund. I think they call it a Government Savings, and an asset to your BK estate. They are only entitled to the portion you paid prior to your BK filing date.

My TT jumped all over mine, she'll get about 2/3 of it (I filed in August). Stinks, but a good trade considering the 85K I BK'd.

[Walangatik]

ok so here is where is I stand. I filed chapt 7 (individual) and my 341 hearing is 11/12, Los Angeles, CA.

I did not exempt my tax return. I get a letter from the trustee asking me to bring my only my last year tax return.

My husband and I file joint taxes and usually get 10000 back due to property exemptions, interest and taxes.

Should I do an amended schedule B and C or leave it alone.

2009 tax return obiviously hasnt been filed yet but will the trustee get all of it even though I am married but filed individual?

Thanks.