Question on what counts as income....

[JEM]

I'm *so* confused at this point.

Yesterday we sold my husbands old truck. We would have traded it in when we bought a more reliable car (2008 Pontiac) almost 2 months ago, but at the time it wasn't running and we figured a car dealer would probably give us $500 as a trade in even if it was running, when really, we could get $2000 for it selling it ourselves to a private party.

Well, yesterday someone answered the ad, and paid $2000 for it. (Which was what KBB said it was worth)

Is that considered income? We have to include on the mean's test? What about on Schedule I? If the answer is yes, how does that work? For instance, say that was "enough" to push us into a CH 13. I mean, it's not like we're going to sell a truck every year for $2000, so over the course of the CH 13 we actually wouldn't have that as "income".

Does my question make sense? (I'm not sure how to phrase it.

What about selling "stuff/junk" on eBay? I mean I've put up some of the kids' outgrown clothes for some cash to "get by". Does THAT count as income too?

We had a garage sale over the summer and deposited the cash (a couple of hundred) in the bank. Will THAT count as income too?

[lifelesson]

look about the forrums for the ebay income ? and for the truck money I think HUBS might of answered you on that in your other post. Glad the truck sold for ya so soon. and was it a cash transaction? What amount did you list on the title for the transfer. like if you say gift. somoene who knows will give you a better reply I'm sure

[JEM]

look about the forrums for the ebay income ? and for the truck money I think HUBS might of answered you on that in your other post. Glad the truck sold for ya so soon. and was it a cash transaction? What amount did you list on the title for the transfer. like if you say gift. somoene who knows will give you a better reply I'm sure

I tried searching eBay income and for some reason it said "No results". I'll try some different phrasing and search again.

Yes. Cash transaction. And yes, we put the full amount ($2000) on the bill of sale.

I thought there was nothing to worry about with the auto sale, but I've come across some contradictory posts regarding the proceeds. So now I'm concerned.

[lifelesson]

Jem- by putting it in that it was cash and the receipt shows for $2,000 you will get better answers from wiser then me folks.

I would like to say one thing my attorney said to me when we had to file to delay the discharge (not that I really wanted to but the reaffirm wasn't done in time for the date we had) When we had to do the delay I was like knees falling out from under me WHAT? ?? does that open the door for trouble from creditors? her reply (which I replay inmy head) was "Is there someone out there who dislikes you? You have done nothing wrong it's a process." I hope that helps you out.
So as of today our delay date has passed and we should be done very soon. to bad my attorney office was closed for a long weekend this week. I'm waiting areply email as to what next.

the worst is over it will get better just give it time. Wants or Needs. Fill the need and save for the wants.

Good Luck.

[jribe]

i don't believe you would count it for your six month income; you would list the sale on your financial affairs- stating when and who you sold to, and the amount. You'll list the money as an asset on your schedules as well.

Obviously there's no 1099 or anything you get from the sale- it was a cash transaction.

The income is meant to be any money earned from working, pensions, etc; what would normally be considered "taxable income" by IRS standards.

I wouldn't worry too much- good luck

I'm *so* confused at this point.

Yesterday we sold my husbands old truck. We would have traded it in when we bought a more reliable car (2008 Pontiac) almost 2 months ago, but at the time it wasn't running and we figured a car dealer would probably give us $500 as a trade in even if it was running, when really, we could get $2000 for it selling it ourselves to a private party.

Well, yesterday someone answered the ad, and paid $2000 for it. (Which was what KBB said it was worth)

Is that considered income? We have to include on the mean's test? What about on Schedule I? If the answer is yes, how does that work? For instance, say that was "enough" to push us into a CH 13. I mean, it's not like we're going to sell a truck every year for $2000, so over the course of the CH 13 we actually wouldn't have that as "income".

Does my question make sense? (I'm not sure how to phrase it.

What about selling "stuff/junk" on eBay? I mean I've put up some of the kids' outgrown clothes for some cash to "get by". Does THAT count as income too?

We had a garage sale over the summer and deposited the cash (a couple of hundred) in the bank. Will THAT count as income too?