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bankruptcy and the pre and post bankruptcy tax returns.

Assuming I filed for bankrupcty on : March 25/2008, and eventually get discharged 9 months later… March 25/2009.

What period is covered when filing for PRE and POST bankrupcty taxes ?

Is PRE defined as : Jan-Dec 2008
and POST defined as : Jan-Dec 2009 ?

One Response to “bankruptcy and the pre and post bankruptcy tax returns.”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

In your above example, the pre-bankruptcy return would be filed from Jan 1, 2008 to March 25, 2008 and any taxes relating to this return or any previous returns (i.e. 2007, 2006, 2005…) will be cleared by the bankruptcy.

The post-bankruptcy return would then be done from Mar. 26, 2008 to Dec. 31, 2008 and if there is any money owing on this return you would be responsible for it.