Deck 13: Schedule I: Income

Question 1

The debtor stopped working a part-time job in December. In January, his petition is ready to be filed. The income from the part-time job is listed in _________.

A) Schedule I.
B) Schedule J.
C) Means Test.
D) None of the above.

Answer 1

Means Test.

Question 2

The client's wife is not filing for bankruptcy, so the non-filing spouse's income is included in Schedule I or the Means Test?

A) Since the spouse isn't filing, her income is excluded.
B) The spouse's income is included in both Schedule I and the Means Test.
C) The spouse's income is only included in Schedule I.
D) The spouse's income is only included in the Means Test.

Answer 2

The spouse's income is included in both Schedule I and the Means Test.

Question 3

The client's boyfriend moved in with her on March 1^st. The debtor is filing for bankruptcy the week of Thanksgiving. The boyfriend's contributions are listed in ________.

A) Schedule I.
B) Schedule J.
C) Means Test.
D) Form 122A-2.

Answer 3

Schedule I.

Question 4

Child support received is neither taxable income nor a deduction, so it's excluded from Schedule I since it's not taxable income.

Question 5

The client is receiving unemployment compensation which is excluded from Schedule I.

Question 6

Since the debtor lost his job, he's filing for bankruptcy. His wife recently retired and receives Social Security Income which is excluded from Schedule I.

Question 7

Even though government assistance is a benefit and not income, it's still listed in Schedule I.

Question 8

The client's daughter is taking a year off from college because of Covid-19 restrictions. She recently moved back in with the client and started a part-time job online, where she earns approximately $600 per month. She uses her income to cover her basic expenses. Her contribution is included in Schedule I.

Question 9

The client's unemployment compensation benefits expired, but he is still without work. His brother is helping him financially, but doesn't reside in the house with him. Is the brother's contribution included in Schedule I?

Question 10

Your client earns $275 gross per week. What is his monthly income?

Question 11

Your client has resided with a domestic partner for more than six months. Is the domestic partner's income relevant?

Question 12

Describe the difference between a domestic partner, spouse, and household member contributing to the expenses for bankruptcy purposes.