First, the only and best source of tax information is from a licensed professional who as reviewed all your financial information.
The documents created in the Chapter 7 Bankruptcy, and any foreclosure or surrendering documents can be used to estimate any gains or losses occurred by the disposal of the real estate asset. However, the IRS only allows recognition of actual gains or losses, not those suffered by deprecation in the assets value nor any deficiency balance you may owe and have not paid.
So, if you had a $100,000 house, put $10,000 down with a $90,000 mortgage and you disposed of the asset the next day for $90,000, then your actual loss is $10,000 - even if the market value of the house jumped to $200,000. Also, this example does not factor in any renovation, fixed improvements, or amortization of your payments up to the disposal.
Bottom line is, your losses can not be more then your out of pocket.
No limit
If you are 21 you have to file taxes
have no money how can i file my taxes
No, you cannot file your taxes at the DMV.
Yes you can file taxes if you are on welfare.
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
Same as always.
No limit
You had to sign and file a "statement of Intention" indicating if you were surrendering the house or reaffirming the debt. If the mortgage company did not send you a reaffirmation agreement, or your lawyer did not prepare one, you should still be able to keep the house, assuming you have continued to make the mortgage payments. If you did not, and are seriously in arrears, you will have to see if a chapter 13 is possible. See a knowledgeable bankruptcy lawyer.
Yes. And the court will likely want to see your return.
If I file chapter 7 or 13 how long can I stay in my house?
Yes, you can, and you may be able to discharge the taxes owed, if they are income taxes for returns filed more than three years prior to filing, unless there are more recent adjustments to the taxes owed.You can also file a Chapter 13 to arrange a payment plan for the taxes, though the IRS has become more amenable to reasonable payment plans without a bankruptcy filing.Consult an experienced bankruptcy lawyer in your area.
If you are 21 you have to file taxes
have no money how can i file my taxes
You may file a new homestead exemption by following the statutory requirements explained at the link provided below.
If you are referring to a chapter 20 (chapter 7 + chapter 13), then yes it is possible. The BK court doesnt differentiate between the types of debts (i.e. taxes, mortgages, medical debt, or credit cards) so you cannot file a chapter 7 for personal debt, and then expect to be allowed to file a chapter 7 for medical debt soon after.
No, you cannot file your taxes at the DMV.