help needed ASAP!!

December 1st, 2009 by Questions

I am a kinship foster parent who is about to declare bankruptcy. I receive an allotment of money monthly to care for my granddaughter. It is not considered income for tax purposes because I can not claim her as a dependent . I do not get a `child tax credit` for her either, that goes to the C.A.S. My question is will this money be included as income for purposes of bankruptcy? Can some one PLEASE answer this question I am sinking FAST!!

Posted from: Ontario


One Response to “help needed ASAP!!”

, A licensed trustee said:

If you want to claim the foster child as a dependent for the bankruptcy (ie someone living in the house) then you’ll alos have to include any money you receive on behlaf of the child. When you decide to speak with a trustee explain the relationship (foster parent) and they’ll give you the options for dealing with it.

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