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Amended Schedule for EITC in Bankruptcy

Clearwater, FL |

The trustee is requesting a set percentage of the estate's portion of my income tax return. I notified the trustee at the meeting of the creditors I do not know what it will be (filed in Sept). I am receiving a large amount for EITC which is exempt by Florida law. The trustee is only asking for the percentage of the estate's interest of my tax return. Should I file an amended schedule to exempt or just provide what the law says the estate is entitled to?

Attorney Answers 3

Posted

You shouldn't need to amend your schedule B. just get the Trustee a copy if the return once done ( the Trustee will likely ask you to get it done sooner than later), and then the two of you can determine what portion of the non-EIC refund. Remember you can apply any unused personal property exemptions to the portion of the refund that the Trustee wants.

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Posted

I don't know your Trustee but many Trustees will take advantage of pro se debtors that don't properly claim their exemptions, so why take the risk? File the amended paperwork.

Hope this perspective helps!

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Posted

I am not sure why the attorney above told you not to amend schedule B.

The truth is, I am assuming this is what he is saying, you have the right to change your exemptions at any time.

The issue he is ignoring is that any asset not listed in the schedules, you forfeit to the bankruptcy estate without exemptions.

Does this happen a lot? Not when you are represented.

If you are not represented, this can become an issue due to your ignorance.

I would not leave this issue alone and expect a trustee to look out for your interest.

find a Florida attorney to assist.

Please contact me directly with document for a free 30 minute consultation to get more concrete advice. This is not legal advice. I don't have enough information to give actual legal advice. I can only take the limited information presented and provide a framework to know how your situation may turn out. I may have questions that bring up issues you did not think were important but make a big difference.

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