Home discharged in chapter 7. Now, realtor wants me to do short-sale. If I were to do this, does it revive tax liability 1099

What was discharged was your personal obligation to pay the debt, but you still own the home. You may realize taxable gain on selling the house to...

Can chapter 7 bankruptcy help prevent tax liability if my home was already foreclosed?

This is a question for a tax lawyer or a CPA. There are two kinds of tax that can result from a foreclosure -- tax on the income imputed from...

You need the advice of a tax lawyer who also knows bankruptcy law. The rules for when taxes can be discharged are very complex, so I'm not even...

Tax Refund Commitment Under Ch.13 Bankruptcy

If you're due a refund for a year or partial year before filing, it should be listed on Schedule B and exempted on Schedule C. Treatment of future...

Where do I list taxes that are more than 3 years old in my chapter 7 bankruptcy?

Your 2008 tax return would have been due on April 15, 2009 unless you asked for an extension, in which case it would be October 15, 2009. That tax...

I'm $46,000 in debt at age 69. What are the pros and cons of filing bankruptcy at this late stage in life?

First of all, you do have assets: the clothes on your back, if nothing else. Whether they would be exempt from execution is something you need to...

My 50/50% llc partner declared bankruptcy and left me with a building debt of over $900,000. what can I do?

You talk to an attorney. You don't make decisions affecting a million dollar debt by asking questions online.

"Cutting corners" in Chap 11 bankruptcy: What will happen?

Expect the U.S. Trustee to look into this very soon and possibly to refer your case to the U.S. Attorney for criminal prosecution. You will also...

Foreclosure after bankruptcy (chapter 7)

Ask a local lawyer who is familiar with foreclosures in your area. The answer depends on the bank, how valuable your property is, how many other...

For filing ch13 in PA do I check box 522(b)(2) or box 522(b)(3)?

This is a very big deal -- that's how you indicate whether you're selecting the federal bankruptcy exemptions in 522(d) or the exemptions available...