Schedule J expenses

[jnfrross]

Hi,

My understanding is that on the Means test we include the mortgage payments even though we're not making any payments. The trustee sale of our house is next month. We will eventually have to pay rent for an apt, room, etc.

What do I put on Schedule J - Expenses for line 1 Rent/Mortgage payment?

Thanks,
Jennifer

[tobee43]

well....since you haven't rented as yet you may have to use the allotted amount for your means test. i know certain districts and certain counties even within those districts allow x amount for rent etc...i would check you local exemption as well as the federal....since which is higher and use it.

[tcreegan]

Hi Jennifer,

I would use the IRS standards for your area.

Go to: http://www.justice.gov/ust/eo/bapcpa..._charts_CA.htm

Pick your county and family size, use the mortgage/rent column.

This should fly past the trustee...

Tom in Colo