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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”.
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Last modified: May 25, 2011