Schedule c - property claimed as exempt

[relieef]

I am on public asistances (food stamps and heating assist. do i have to exempt ?(11 USC § 522)(d)(10)(a).


Haven not worked in 3 Yrs. should i still file taxes ? receiving moneys from friend.

Have read on forum not necessary but have also read courts demand it?

Thanks

[pippen2012]

My understanding is to only exempt those items owed to you. For example, If you are due to recieve a benefit for a period of time before actually recieving that benefit as may occur in an administrative waiting period you could claim that amount by the day both on B as property and on C as an exemption. If you have unspent disbursement the best thing to do is have a seperate checking or debit account only for those disbursements. It can be added to only with the exempt source- food assistance, etc. And drawn on only for those purposes. If that is true it is likely to be exempt as an asset. This is how that is handlled in my district but you will definately want to check with an attorney throug free consultation or a clinic in your district. Setting up a seperate account designated for the exempt funds now will save you time later. It can also protect you from a possible garnishment. You should also double check to see that those disbursements actually are exempt in your state.