Using percentage on Schedule "C" instead of dollar amount
Posted: Wed Jan 13, 2010 9:43 am
Ahh...ok
Thanks.*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at http://bklaw.com/bankruptcy-blog/2008/0 ... efinition/)
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On 1/13/2010 6:58 AM, James T. King wrote:
>
>
> Be patient Mark. The Supreme Court just heard that case. At this
> point most, if not all, chapter 7 trustees will force you to claim an
> actual amount and continue the 341 until you do.
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On
> Behalf Of *Mark J. Markus
> *Sent:* Tuesday, January 12, 2010 11:25 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Using percentage on Schedule "C" instead of dollar
> amount
>
> Just want to make sure it's OK to list on Schedule "C" a percentage
> amount (such as 100%) instead of a dollar amount in cases where it's
> possible the value of the asset in question may ultimately calculate
> to higher than the amount scheduled. I recall reading or hearing
> about cases where this was done to avoid the Trustee coming in after
> the fact to liquidate the non-exempt portion and it forces the Trustee
> to timely object.
>
> Anyone else do this?
>
> *************************
> Mark J. Markus
> Law Office of Mark J. Markus
> 11684 Ventura Blvd. PMB #403
> Studio City, CA 91604-2652
> (818)509-1173 (818)509-1460 (fax)
> web:http://www.bklaw.com/
> This Firm is a Qualified Federal Debt Relief Agency (see what this means athttp://bklaw.com/bankruptcy-blog/2008/09/debt-relief-agencies-definition/)
> ________________________________________________
> NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.
>
>
>
>
The post was migrated from Yahoo.