I have to include on my return the interest earned

Guest 0.10 Dollars($)

if I file chapter 13 do have to include on my return the interest earned on money in trust account. thanks for all help I can get.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

In Chapter 13 wage earner's plan a debtor is not required to include interest earned on money held in a trust account on his return while the money awaits distribution to his creditors.

Miller

blue · Posted: Fri Mar 23, 2007 12:26 pm Post subject:

Hi Diane,

Welcome to Mortgagefit discussion board.

Miller is correct, this interest amount is neither available to you nor to your creditors. It is available to the trustees. Such interest earned is taxable for them as their individual incomes.

Do let me know if you have any other questions.

Thanks
Blue

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