monkey mom asked: My husband and I were planning to file Chapter 13 bankruptcy (we are seeing lawyer tomorrow) and I just found out that we should qualify for Chapter 7 too. We own a home, but only have 10k in equity in it. This wouldn’t even begin to touch our 43k unsecured debt. I’ve…
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Do I have to claim a Chapter 7 bankruptcy as income on my tax return?
Jmalewski asked: I had to file Chapter 7 in 2007. Most of the percentage of what I filed was penalties on credit cards, therefore what I actually owed, was significantly less than what I filed on. On my income tax return this year, do I have to claim the chapter 7 bankruptcy total as income…