Please for those of you who know a great deal about the process about filing bankruptcy please DO NOT ridicule me for this question.... I plan to file sometime before the end of the year. I was wondering how does donating sporting equipment help your case? If I donate used equipment and show how much I would have actually got for this had I sold it does that help with claiming expenses? I know really dumb question but thought I should ask. Need to get rid of some things and thought donating it to charity might be an expense I could use. Thanks!
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08-2009:Quit Paying Credit Cards
04-2010:Hired 2nd Attorney;05-2010:Filed 7
06-2010:341 Meeting (went very well)
08-24-2010: Discharged; 09-02-2010 Closed!! -
That's not a dumb question and nobody here would consider ridiculing you for asking it.
You are allowed to indicate your charitable contributions on your schedule J.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick -
No ridicule, Ann....I promise!Originally posted by Ann View Post
Are you thinking that regularly donating items to charity might be considered the same as tithing to a church or regularly donating cash to a designated charity through a payroll deduction?
The problem I see with this is that you haven't already been regularly donating for a long while. Also you would be assigning some estimated value to the donation that won't likely be the same from donation to donation.
I think you are pushing the edge on this one, Ann. However, it won't hurt to ask your lawyer about it. Let us know what you find out.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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If Ann is transferring an asset (tennis racket, car or cash) to an actual charity she is fine. The valuation she would use is the same value she would use to list it on her Schedule B:Personal Property, at garage sale value.Originally posted by lrprn View PostNo ridicule, Ann....I promise!
Are you thinking that regularly donating items to charity might be considered the same as tithing to a church or regularly donating cash to a designated charity through a payroll deduction?
The problem I see with this is that you haven't already been regularly donating for a long while. Also you would be assigning some estimated value to the donation that won't likely be the same from donation to donation.
I think you are pushing the edge on this one, Ann. However, it won't hurt to ask your lawyer about it. Let us know what you find out.
If this is her only contribution for the year, she would list 1/12th of the donation on her Schedule J.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -RickComment
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Thanks... I really needed to unload some things I have TRIED to give away to family and friends and nobody wants them... I know of a place that would gladly take them and just thought It might be a win win case for me. Thanks all!08-2009:Quit Paying Credit Cards
04-2010:Hired 2nd Attorney;05-2010:Filed 7
06-2010:341 Meeting (went very well)
08-24-2010: Discharged; 09-02-2010 Closed!!Comment
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At the very least it will help you on your taxes!
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Why would anyone here want to ridicule you? You're in one of the few places where we're all in that same "broke" boat together.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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