We got our appraisal back!

[momof3b1g]

Ok first according to the county 2008 value $144,900 2009 $161,000.
The appraisal came back at $137,500. So that is good news.
But now we need to figure out what we want to do. That gives us about $36,000 in equity.

Federal we can exempt $40,400 in equity
leaving $4400 for other exemptions.
We want to exempt our federal refund about $5000.

We have $2150 in wildcard exemptions.

So how does that exemption work for refunds? Say we exempt $5000 and our actual refund is more then $5000? Do we have to pay them the difference? I'm assuming we would have to exempt both state and federal to keep both?
Now when filing with federal exemptions we have to exempt any earned wages we haven't received right? What else might we want/need to exempt?

[Mi Bankruptcy]

Mom,
I remember answering this before. Here's what we did. however, we have to wait until our 341 in Jan to see if it works. We are CH7 no asset with plenty of room left in our exemptions
Schedule B
Anticipated 2008 Tax return $6,000

On Schedule C He listed:

He put "Anticipated 2008 Tax Return"
(Husb)11 U.S.C. 522(d)(5) $3,000
(Wife)11 U.S.C 522(d)(5) $3,000