Question - Won 18k this weekend

[bankruptsaluki]

Hello my friends at BK Forum.....

So I was discharged in April 06 and this weekend(over a year later) I won 18k at the racetrack. Do any of these companies that I got discharged have any way of requesting this money from me or am I free and clear and able to use this 18k to continue my successful 2nd chance?

Thank you very much in advance, appreciate it greatly.

[lrprn]

So I was discharged in April 06 and this weekend(over a year later) I won 18k at the racetrack. Do any of these companies that I got discharged have any way of requesting this money from me or am I free and clear and able to use this 18k to continue my successful 2nd chance?

If your bankruptcy case is discharged AND closed, then the $18K is yours to keep - use it wisely.

However, if your bk case is discharged but NOT closed yet, then it's possible your trustee will become very interested in your windfall. Sure hope your case is closed!

[bankruptsaluki]

If your bankruptcy case is discharged AND closed, then the $18K is yours to keep - use it wisely.

However, if your bk case is discharged but NOT closed yet, then it's possible your trustee will become very interested in your windfall. Sure hope your case is closed!

Very closed....AWESOME!!

[CATCHMEIFYOUCAN]

How would the Trustee find out when you hit a small windfall like THAT ???

CatchMeIfYoucan

[lrprn]

How would the Trustee find out when you hit a small windfall like THAT ???

This year's tax returns for one - you are supposed to declare racetrack winnings and pay the taxes on them. And if you leave the winnings off, since the track reports winnings to the IRS, that can get you tripped up by not only the trustee but get the IRS after you too.

[CATCHMEIFYOUCAN]

awww .. i aint got nothing to worry about .. ive been doing the win loss statement for 3 years now .. trustee saw all my wg's etc .. not a blink .. i called my lawyer and asked him why my case hasn't actually closed as the trustee is looking to be "discharged" from the case himself .. so hopefully i'll see an end to all this very shortly !

thanks ! ! !

CMIYC

[stopthebleeding]

don't you fill out a form for taxes before you leave the track

If you win anything over 1999.

[CATCHMEIFYOUCAN]

If you hit anything at the casino: for example Charles Town, WV and Dover, De. Anytime you win $1200 or more they give you whats called a "WG" which of course gets reported to the IRS. You have the option to tell them (the casino reps) to take the taxes out OR just pay the full amount of the wins. It shows on the WG (FORM, call it what you will) the amount you won, and if taxes were deducted. At the end of the year you submit that form along with your W2. Even though I seem to WIN big, I also either loose enough to write off my winning with my losses or I break even. I have a feeling I'm going to come out ahead this year (2007). When I filed BK, the Trustee I'm sure saw how much I had made the previous years and of course knows about my gambling wins and losses, but he didn't mention NOTHING of it. He was more concerned about getting the judge to approve an $800 disposable income I had from schedules I and J, only because I had been working 2 fulll time jobs. Since I owe friggin' $4000 in taxes from last year, the Trustee knew he wasn't getting anything, even with my gambling wins - I was still down for the year due to my losses exceeding my wins.

CMIYC

My lawyer said since I was discharged I can do what I want. So I TRUST my lawyer. He has helped me a great deal on beating the "odds," concerning my case.