- 5 - petitioners owned assets with a total current value of $547,510, inclusive of the following:6 Assets Current value Cash in accounts $3,600 Cash on hand 165 Vehicles: 1993 Chevy 1500 pickup 2,040 1998 Dolphin motor home 42,160 2003 Dodge Grand Caravan 9,810 Real estate 154,090 Retirement Account 335,645 547,510 The Form 433-A reported that petitioners’ debt consisted of $43,822 owed as to the 1998 Dolphin motor home, $67,777 owed as to the real estate, and $1,491 owed on credit cards. The Form 433-A reported the following monthly items of income and expense: Items of income Amount Husband’s pension $1,854 Wife’s pension 662 2,516 Items of expense Amount Food, clothing, and miscellaneous $800 Housing 1,498 Transportation 296 Medical expenses 528 Taxes (Income) 529 Debt secured by motor home 478 Other expense 1,300 5,429 6 Form 433-A states that each asset reported on the form should be valued at its “Current value”, defined on the form as “The amount you could sell the asset for today”.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011