How much trouble

[jgordo52]

Long story short, I filed on 12-31. I filed my tax returns two weeks ago, and will get a direct deposit of about 3800 this Friday. On the petition I put expected return of about 3500. I put about 1500 of household property. My exemption for wildcard is 4k. So right now on the petition, my exempted amount toward tax return is 3500, and 500 towards personal property. Leaving 1000 unexempt but we can change that if they want to go after it. What would happen if I used my entire tax return towards my property taxes. I assume the trustee would get pissed about it correct?

[justbroke]

Long story short, I filed on 12-31. I filed my tax returns two weeks ago, and will get a direct deposit of about 3800 this Friday. On the petition I put expected return of about 3500. I put about 1500 of household property. My exemption for wildcard is 4k. So right now on the petition, my exempted amount toward tax return is 3500, and 500 towards personal property. Leaving 1000 unexempt but we can change that if they want to go after it. What would happen if I used my entire tax return towards my property taxes. I assume the trustee would get pissed about it correct?

Worse case, is they think it's a preferential payment. However, property taxes are considered secured (statutory lien) so you may be okay on the preferential payment issue.

Let's back up anyhow. You say there's a $4K wildcard. What are your values for furniture. Generally, people don't use their wildcard on furnishing. Is this a Chapter 13?

[jgordo52]

It's a CH 7, Basically in IL all you have is a 4k wildcard from what I understand and filed as. 1500 is for household goods and furnishings. 429 is what is exempted. Please let me know what you think.

Thanks

[justbroke]

It's a CH 7, Basically in IL all you have is a 4k wildcard from what I understand and filed as. 1500 is for household goods and furnishings. 429 is what is exempted. Please let me know what you think.

Ugg. And I thought Florida was bad. Keep your chin up.

[jgordo52]

Ugg. And I thought Florida was bad. Keep your chin up.

At least you got good weather man.

[dream08]

Hello-

Are you sure that the Wildcard is $4000. I am in Illinois also , and I plan to file next week, after I get my taxes. Most of the information I received said the wildcard was $2000. Have you filed already?

It's a CH 7, Basically in IL all you have is a 4k wildcard from what I understand and filed as. 1500 is for household goods and furnishings. 429 is what is exempted. Please let me know what you think.

Thanks

[hopechange]

I'm in Illinois too plan on filing after tax refund. Everything I've read says 4000 wildcard