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question on whether this amount is "income"

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    question on whether this amount is "income"

    Hello all,

    So now I'm working on completing the Statement of Financial Affairs and the Statement of Current Monthly Income -

    For the Statement of Financial Affairs we need to list all income received last year. In August we were given a cash gift of $3500 from a ministry to help with our financial hardship; it was used to pay rent, living expenses, and make our monthly debt payments at the time. I'd say I don't need to list it as "income" anywhere because it was a one-time gift, not "earnings" as they're generally defined by tax laws, etc., but I want to be safe. I'm a little worried about excluding the $3500 and then if the trustee asks to see bank records, he'll see it on there as a deposit and question it.

    Thoughts?
    1/22/10 - filed Chapter 7 pro se
    3/2/10 - 341 meeting
    5/6/10 - discharged and case closed

    #2
    I'd include it but list it separately saying what it is. I try to err on the side of being as complete as possible. I'd also suspect that it gets included with your regular means test income six-month lookback (which I think includes 6 calendar months before month of filing? worth checking). Is it a problem if you do include it? I think this kind of thing can vary somewhat by district.

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      #3
      I was told that a gift is not considered income, but like the other poster said, it depends on the district.

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