Filing taxes for 2011

[shanaj]

Me and my husband filed for bankruptcy in November 15th...We dont file together but we receive around 5,000 each year...will the trustee take this? We plan to use this money for home repairs. What can we do?

[GIn]

Yes, the Trustee will take your tax refund. At the 341 meeting you will be asked how much you expect to receive on your tax refund. You will answer $5,000. The trustee will then designate you as an asset case and hold your case open until he receives your tax refund check.

[jst4f]

Work with your attorney to see if you can adjust your exemptions to cover it. While it is late in the year adjust your deductions to zero for the rest of the year to minimize the refund and use the extra money to stock up your pantry or other necessary expenses.