$150,000 Homestead for Low Income Debtors
Posted: Thu Feb 10, 2005 5:56 pm
try In re Shelley, 184 br 356 aff'd 109 f.3d 639 (To determine gross annual income courts could consider how California defined gross income for tax purposes).
Sent: Thursday, February 10, 2005 5:52 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] RE: $150,000 Homestead for Low Income Debtors
01812.01
February 10, 2005
One of my cases presents the following question:
In determining whether the hardship provision of the homestead exemption
applies, i.e. $150,000 per CCP 704.730(a)(3)(C), which line of the Form
1040 does one consider? Is it Form 1040 line 7, line 22 or line 34?
Are there any cases on point?
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
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