Pro Se Ch 7 Questions re: taxes and "unclaimed funds" held by NYS

[crb416]

Greetings all, I've been checking out this forum for the past few weeks since I made the decision to file and have my first questions I haven't found answers for.

1. I'm in the process of filling out my Ch 7 forms. I'd like to have them ready to file in the next couple of weeks, Of course, I may have the opportunity to file my 2010 taxes in the same time frame. I know I'm supposed to submit my "most recent Tax return" as part of the package. Does this mean my 2010 taxes would be my most recent, or are my 2009 my most recent because they've been filed and approved by the Feds?

2. On a recent trip to my hometown (in NY, I reside in WA) I discovered 3 shares of Texaco stock I didn't know I had. With a little investigation I discovered that the NYS Office of Unclaimed Funds had these held for me, and I've applied to receive their current cash equivalent. The stock was bought by Chevron, and has split at least a couple times. I estimate I'll receive around $500. So far I've received nothing, not even an acknowledgement of my application. Where does this go in my Schedule D? Line 21 "Contingent and unliquidated claims"?

Thanks for any help and for the info I've already received!

[justbroke]

I know I'm supposed to submit my "most recent Tax return" as part of the package. Does this mean my 2010 taxes would be my most recent, or are my 2009 my most recent because they've been filed and approved by the Feds?

The law actually reads that all years for which a return is due must be filed. That means that you'd have to file 2010 and any other "unfiled" year and submit the same to the Trustee. If you are filing your petition, then you'd file it with the 2009 return. However, the Trustee will want the 2010 return before or at the 341 Meeting.

2. On a recent trip to my hometown (in NY, I reside in WA) I discovered 3 shares of Texaco stock I didn't know I had. With a little investigation I discovered that the NYS Office of Unclaimed Funds had these held for me, and I've applied to receive their current cash equivalent. The stock was bought by Chevron, and has split at least a couple times. I estimate I'll receive around $500. So far I've received nothing, not even an acknowledgement of my application. Where does this go in my Schedule D? Line 21 "Contingent and unliquidated claims"?

Schedule D is for secured claims. I think they should go on Schedule B -- Personal Property. I would list the information about its location in the "DESCRIPTION AND LOCATION OF PROPERTY" area.

If you can, exempt it on Schedule C. Otherwise, the Trustee may want to try to get it.

Thanks for any help and for the info I've already received![/QUOTE]

[crb416]

Thanks for the help

[help1234]

Are you using State or Federal exemptions? WA state has terrible cash exemptions. Our attorney had us liquidate and spend (on necessary household expenses)stocks prior to filing. We did the same thing on our tax refund... filed BK after it had been received and spent. Good luck!!

[crb416]

I'm going to use the federal exemptions, I don't own any real property at all and I can use the unused homestead exemption. In fact I own very little in general.