Tax Refund exempt

[Movingon2010]

Do I have to worry about what I spent my tax refund on if I am exempting the whole amount? In my state you can exempt p to $5000 in personal property which is how much I received back in taxes. all I have is my tax return and that was used to catch up my car and pay late utilities etc.

[daylate]

Once you receive it is cash not a refund, not a refund due, not a refund collected. Sounds like you spent it on permissible things.

[tcreegan]

Hi Movingon2010,

You spent the refund on legit expenses, its gone right? No need to exempt it, just be able to give a rough accounting on where it went.

You need the $5,000 personal prop exemption to cover your TV, microwave, LazeBoy recliner, kitchen chairs, etc (not clothing, VA gives you a separate exemption for clothes, 1k I think)

And I think VA allows you to use unused homestead exemption as a wildcard...

So far so good, keep us posted,

Tom in Colo

[Movingon2010]

Thanks to your response. I wasn't sure if my payments to catch up car will be considered PReferrential or not. It is all gone now either way:-)