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What are "professional books"?

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    What are "professional books"?

    11 USC 522(d)(6) exempts "tools of the trade", including "professional books". Are these regular books you can get at a Barnes & Noble or Borders (anything in the Real Estate section for real estate investors & realtors, anything in the computer section for software engineers, etc) or does this specifically refer to professional licensure ("bar exam" books for lawyers, that sort of thing)?
    3/7/11 -

    #2
    If you buy it at Barnes & Noble, it probably is not considered a "professional" book. What you are looking at with professional books are things such as law journals, medical books, etc. Keep in mind however, that used books are pretty much worthless.
    All information contained in this post is for informational and amusement purposes only.
    Bankruptcy is a process, not an event.......

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      #3
      Originally posted by randian View Post
      11 USC 522(d)(6) exempts "tools of the trade", including "professional books". Are these regular books you can get at a Barnes & Noble or Borders (anything in the Real Estate section for real estate investors & realtors, anything in the computer section for software engineers, etc) or does this specifically refer to professional licensure ("bar exam" books for lawyers, that sort of thing)?
      A professional book is any book you might use in your trade or profession. The popular bookstores stock some "professional" books. They are usually hard cover, sell for over $100, and do not have 'Dummies' in the title.

      And if you are just a hobby doctor, then your expensive medical books would not be professional either, while a cheap paperback book on real estate law could be professional if you are a licensed broker.

      The resale value of so-called professional books is usually 10-20% of their retail cost, if you tried to sell them on the Internet or to a used book store. A rare exception is an older technical book that sold for $30 in 1970, and today the same edition sells for $300. A dealer would try to sell the book at $150 and maybe give you $20 on a good day. That happened to me when I sold some of my obscure graduate level engineering books.
      “When fascism comes to America, it’ll be wrapped in a flag and carrying a cross” — Sinclair Lewis

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        #4
        Sounds like my books wouldn't qualify as "professional". No, they aren't "Dummies" books. Still, books can be exempted under 522(d)(3) rather than 522(d)(6), so I'll go for that instead.
        3/7/11 -

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          #5
          Look at it this way. If you wouldn't have bought the book otherwise, then it's a professional book, even if it's bought at Barnes and Noble.
          Filed August 20 341 on September 23 Report of No Distribution - September 24 Case Discharged and Closed on November 23!!!

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