Will I have to declare my bankruptcy on my taxes? Is it counted as income?
2007-12-30 09:52:23 · 3 answers · asked by moegold2000 2 in Business & Finance ➔ Taxes ➔ United States
If your taxes are less than three years old (Tax year 2004 or later) they will not be discharged. Discharge of debts, including taxes, in bankruptcy does not create iincome.
2007-12-30 11:55:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
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RE :How will filing for bankruptcy affect my tax return?
Will I have to declare my bankruptcy on my taxes? Is it counted as income?
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2016-10-04 14:59:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The trustee gets a undeniable proportion of all money he gets from the debtor, so they are going to take all they could. you will maximum possibly lose your tax return. one element which you're able to do is wait till you get your refund in the previous you record and then spend the money on exempt products alongside with groceries, own property or maybe your financial disaster criminal expert/courtroom expenses. you will could desire to envision on what property is exempt on your state.
2016-10-20 11:00:42 · answer #3 · answered by ? 4 · 0⤊ 0⤋
How will filing for bankruptcy affect my tax return?
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2015-01-02 19:43:53 · answer #4 · answered by ? 1 · 0⤊ 0⤋