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TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 12365
Experience:  JD, MBA
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Do i have to claim an exemption to keep my federal income

Customer Question

do i have to claim an exemption to keep my federal income tax return for 2012 if I am filing now? For how many years do I have to list this as an assest? Are my student loans that I am obtaining now count as assests that can be claimed as exempt. I am filing chapter 7 in texas using of course the federal exemptions since they are better.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 5 years ago.
Hello and thank you for allowing me the opportunity to assist you.

Yes, you will have to use an exemption in order to keep your tax returns ... or at least the portion that is considered pre-petition (i.e., January through the date of petition).

With regard to your student loan funds, you'll need to exempt those as well.

Does that answer your question? Let me know if you need clarification, and please remember to rate me positively so that I receive credit for my efforts.

Thank you and good luck!
Expert:  TJ, Esq. replied 5 years ago.
Hi again.

I noticed that you rated me poorly. If I didn't answer your questions, please let me know and I'll do my best to help. As of now, I am unclear as to why you are dissatisfied.