Income from selling things may mess up our 6 month average :(

[discouraged]

My lawyer wanted everything too, but he included all extra moneys' (not that there was much) as exempt since we can take the Federal standards here. He wanted to make sure all moneys were accounted for and exempted. Made sense to me.

[daylate]

My lawyer wanted everything too, but he included all extra moneys' (not that there was much) as exempt since we can take the Federal standards here. He wanted to make sure all moneys were accounted for and exempted. Made sense to me.

Just to be clear this is an apple and orange point. the OP was asking about income not cash on hand. Once it is cash, it doesn't make any difference whether it was a gift, a loan, a tax refund or you found a bag of cash that fell off a Brinks truck. So cash that is already spent from selling stuff at a loss doesn't have to be reported anywhere in my opinion. On the other hand, if you had made a profit, it has to be reported as income whether or not it is in your bank account.
Two entirely different topics-income and assets.

[discouraged]

Thank you, daylate. Still learning I guess.

[csonly]

We had to fill out a paper at the 341 meeting asking if we had paypal or ebay accounts. I would assume you have people hiding income in paypal, but I think the small amount you are talking about wouldn't be a problem, but I would encourage you to disclose everything, honesty is the best policy always.

There are several posts on here about expenses, so you may want to search for them to make sure you are counting all your expenses allowed. Also, as an other poster mentioned, the means uses your gross, but there is a section for taxes. If you are having too much withheld, that amount over would be considered as DMI by the UST. Even if you are below, at or above median, and if you have allowable expenses that gives you a negative DMI, you should have no problem with a 7.

[tobee43]

We had to fill out a paper at the 341 meeting asking if we had paypal or ebay accounts. I would assume you have people hiding income in paypal, but I think the small amount you are talking about wouldn't be a problem, but I would encourage you to disclose everything, honesty is the best policy always.

There are several posts on here about expenses, so you may want to search for them to make sure you are counting all your expenses allowed. Also, as an other poster mentioned, the means uses your gross, but there is a section for taxes. If you are having too much withheld, that amount over would be considered as DMI by the UST. Even if you are below, at or above median, and if you have allowable expenses that gives you a negative DMI, you should have no problem with a 7.

wow, that's extremely interesting....since the trustee's usually have computer right in front of them and can see your paypal account........shoot..i paid my rent, and many bills via paypal...so i'm a bit confused about the point here. also many people us paypal debit cards since they are tied to their checking or savings accounts...so i'm a bit confused about why a trustee would ask about any of that since most all monies removed from paypal either leave via the debit card and reflect on your bank statements...???

[CCBmama0f3]

Well I did my homework and have all the documentation to back me up. I printed out all payment received, payments sent, transfers from my bank or credit card to my paypal, and transfers from my paypal to my bank account. There is only $23.55 difference in showing where my money went and how I got it. I feel pretty confident and it doesn't show me hiding anything. My only concern at this point would be if they questioned me as to why I do this stupid buy/sell hobby but I am ready with that too

[tobee43]

Well I did my homework and have all the documentation to back me up. I printed out all payment received, payments sent, transfers from my bank or credit card to my paypal, and transfers from my paypal to my bank account. There is only $23.55 difference in showing where my money went and how I got it. I feel pretty confident and it doesn't show me hiding anything. My only concern at this point would be if they questioned me as to why I do this stupid buy/sell hobby but I am ready with that too

i guess it's really going to depend on your trustee....ours never asked about ebay or paypal....i ALWAYS took out the money from paypal and put it in my checking acccount anyway...so the trustee saw all of that anyway.

i think you'll be fine. i know it's hard because you want to be absolutely honest, which is the BEST way to go...but we worried about everything only to find out ...most of what our trustee was interested was the BIG stuff...

[CCBmama0f3]

i guess it's really going to depend on your trustee....ours never asked about ebay or paypal....i ALWAYS took out the money from paypal and put it in my checking acccount anyway...so the trustee saw all of that anyway.

i think you'll be fine. i know it's hard because you want to be absolutely honest, which is the BEST way to go...but we worried about everything only to find out ...most of what our trustee was interested was the BIG stuff...

That makes me feel better! I just want to completely honest and put everything out there regardless of size. I am organizing it well just in case I have to explain everything

[AtlBkAtty]

If you don't include the "income" because of the "expenses", just be honest at the 341 meeting. The Trustee will let you know if you need to change any paperwork.

The whole issue of gross vs. net and having to include gross earnings pertains more to a job where you have taxes, insurance, etc. taken out. Your issue is more related to a self-employed business, and you may want to look at disclosing it as such on your Statement of Financial Affairs. The Trustee may want you to fill out operating reports, a fancy name but a simple document, for a few months prior to your filing to show your net loss from your paypal activities.

Again, disclose everything and be honest. As long as you believe you are telling the truth, then noone can say that you've filed in bad faith.

[csonly]

Just to clarify the form regarding ebay/paypal. Maybe it's just a district thing, but there were like 10 questions, yes or no questions. One asked if you had a paypal acct, one asked if you had an ebay account. They were all general questions and everyone who had a case that day had to answer these questions and sign. My attorney said they should all be "no" except for one of them and if they were not, to let him know.

I honestly don't think the small amount this OP is talking about would be a problem, I think they are looking for major income through ebay and funds being hidden in a paypal account. Just my 2 cents.

[tobee43]

That makes me feel better! I just want to completely honest and put everything out there regardless of size. I am organizing it well just in case I have to explain everything

i hear you...and it really is the BEST way to be...after all....lies are difficult to remember while the truth never changes. AtBKAtty makes a good point.

i just know you'll be fine..

[tobee43]

Just to clarify the form regarding ebay/paypal. Maybe it's just a district thing, but there were like 10 questions, yes or no questions. One asked if you had a paypal acct, one asked if you had an ebay account. They were all general questions and everyone who had a case that day had to answer these questions and sign. My attorney said they should all be "no" except for one of them and if they were not, to let him know.

I honestly don't think the small amount this OP is talking about would be a problem, I think they are looking for major income through ebay and funds being hidden in a paypal account. Just my 2 cents.

i think so too...about the "district" thing...i mean really, i saw some trustee's LOL!!!!! that were soooooooooooo OLd i know they don't have a clue what paypal even is. although, their paralegals should.

now....i'm OLd so it's ok i said that. i just know my mom doesn't have a clue what it is or how to even access it.

[daylate]

Thank you, daylate. Still learning I guess.

Aren't we all. BK is a very complicated process. Unfortunately many of us don't know what we don't know until it is too late. I just try to pass along what i have learned (or at least think I have learned) to help others, just like all the folks here helped me.