A Tax Reminder for Chapter 13 Debtors

Don’t let your client forget to look at the Chapter 13 trustee’s disbursements in the case for income tax deductions.

Mortgage interest, property taxes, business expenses and state income tax payments all may lurk in the trustee’s record of disbursements for 2010.  Those payments are made with the debtor’s money, and it seems therefore to me, at least, that the debtor should be able to deduct those payments.

As I repeatedly recite to my clients, I’m not a tax expert, but I can spot issues.  So I suggest to my clients that they gather this information from the trustee’s records and take it to their tax professional for evaluation.

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