I'm meeting with the lawyer again on Wednesday, but in the meantime, I'm hoping you can all help me out 
We were going to file Ch7 and keep the house. Now I'm leaning towards letting the house go and finding a rental property instead.
IRS housing standards in my county is $1730. Our mortgages are about $2550. In section 20B, do I get to deduct the 1730? (I'm guessing rent will be about $2000). If I were planning to keep the house, I would get to get the extra deduction for the my higher mortgage in 42A, right?
Now, regarding cars. We have 2 cars. $367 payment which is paid off in January (we will probably file right after the last payment has been made). And, a $561 payment for another 2 years. Can I take credit for 2 cars in sections 23 (Transportation Ownership/Lease expense) AND 24 (Transportation ownership/lease expense?)
We were trying to replace the $367 car with a used car (because we have too much equity in the car right now so we may lose it in the process AND we may need that payment to help us qualify). Can we trade the car in and purchase a used car in December if we are filing in January?
Someone mentioned 401K deductions in another thread. Can that amount be included on the means test or Schedule I/J? I was contributing 8%, but dropped it down to 4% to get more money in our pocket every month. My work matches 100% up to 4%.
Reading thru Nolo book - I have just a few more questions. My husband's job requires continuing education in order to be licensed every year. Can we deduct the costs associated with obtaining the necessary hours under Line 29? For child care (line 30) - we are putting my son in after school child care program now so my husband can work longer hours -- can we deduct the full monthly amount or is it an average for the last 6 months? In the summer, the rates go up too. Should I figure out the yearly cost (going foward) and divide by 12? Hopefully last question. I'm confused on Line 32 (communication). Can I deduct our cell phone service there? Or is that included in housing/non-mortgage?
Thanks so much for you continued help. I thought I knew what/when I was doing this - but so much has changed in the last few months
(BTW - In Illinois, if that matters)
We were going to file Ch7 and keep the house. Now I'm leaning towards letting the house go and finding a rental property instead.
IRS housing standards in my county is $1730. Our mortgages are about $2550. In section 20B, do I get to deduct the 1730? (I'm guessing rent will be about $2000). If I were planning to keep the house, I would get to get the extra deduction for the my higher mortgage in 42A, right?
Now, regarding cars. We have 2 cars. $367 payment which is paid off in January (we will probably file right after the last payment has been made). And, a $561 payment for another 2 years. Can I take credit for 2 cars in sections 23 (Transportation Ownership/Lease expense) AND 24 (Transportation ownership/lease expense?)
We were trying to replace the $367 car with a used car (because we have too much equity in the car right now so we may lose it in the process AND we may need that payment to help us qualify). Can we trade the car in and purchase a used car in December if we are filing in January?
Someone mentioned 401K deductions in another thread. Can that amount be included on the means test or Schedule I/J? I was contributing 8%, but dropped it down to 4% to get more money in our pocket every month. My work matches 100% up to 4%.
Reading thru Nolo book - I have just a few more questions. My husband's job requires continuing education in order to be licensed every year. Can we deduct the costs associated with obtaining the necessary hours under Line 29? For child care (line 30) - we are putting my son in after school child care program now so my husband can work longer hours -- can we deduct the full monthly amount or is it an average for the last 6 months? In the summer, the rates go up too. Should I figure out the yearly cost (going foward) and divide by 12? Hopefully last question. I'm confused on Line 32 (communication). Can I deduct our cell phone service there? Or is that included in housing/non-mortgage?
Thanks so much for you continued help. I thought I knew what/when I was doing this - but so much has changed in the last few months
(BTW - In Illinois, if that matters)