The one-sentence version
Schedule I shows the trustee what your monthly income actually looks like at the moment you file - paired with Schedule J, it tells them whether you have any disposable income left over after the bills are paid.
Schedule I vs. the Means Test - they are not the same
A common confusion. They use different numbers, ask for different things, and serve different purposes:
- Form 122A-1 (the Means Test) uses your average gross income from the prior 6 months, multiplied by 12. Backwards-looking.
- Schedule I (this form) uses your current monthly income at filing - what's coming in right now, including the bonus you don't get anymore or the new job you started yesterday. Forwards-looking.
The two can look very different. Someone who lost a high-paying job 4 months ago may have a Means Test income that disqualifies them but a Schedule I that's tiny. Both are legitimate; they answer different questions.
What's on the form
Two parts.
Part 1 - Describe employment
For each job, you list employer name and address, occupation, and how long you've worked there. Both spouses fill this out separately on a joint case (the form has dual columns).
Part 2 - Detailed monthly income
Line by line:
- Gross wages, salary, commissions, bonuses
- Payroll deductions: taxes, Social Security, Medicare, mandatory contributions, voluntary contributions (401k, insurance premiums), other deductions
- Net take-home pay from each job
- Income from operating a business (gross receipts minus business expenses - if positive)
- Income from rental property (gross minus rental expenses)
- Interest and dividends
- Family support received: child support, alimony, regular financial help from relatives
- Unemployment compensation
- Social Security
- Pension or retirement income
- Other monthly income: gig work, freelance, side jobs, tips, royalties, anything not above
The form adds it all up to a "combined monthly income" figure that flows to Form 106Sum.
Question about changes
The form ends with a yes/no: "Do you expect an increase or decrease within the year after you file this form?" If yes, you explain. This is where you'd note "starting a new higher-paying job next month" or "expecting to be laid off in 60 days."
Good to know: Schedule I includes everyone in the household contributing to expenses, even non-debtors. If your non-filing spouse earns income, their income gets reported here (in a separate column on a single-filer case) because Schedule J will include household expenses paid from that income.
Common mistakes
- Listing the same 6-month average from the Means Test. They're different on purpose - use actual current income.
- Forgetting irregular but real income - quarterly bonuses, seasonal tips, regular cash help from family.
- Confusing gross and net. Schedule I asks for both - gross at the top, deductions in the middle, net at the bottom.
- Omitting a side hustle because it's small or under-the-table. Cash income is still income.
- Not updating when something material changes between filing and the 341 meeting (job loss, new job). Trustees appreciate proactive amendments.
Watch out: The U.S. Trustee compares Schedule I to your tax returns, your W-2s, and your bank deposits. Material discrepancies invite further inquiry and, in some cases, motions to dismiss for "abuse" under 11 U.S.C. Section 707(b)(3). The safest path is full disclosure - and if any of the income is from a source you're uncomfortable listing (cash side work, for instance), get a quick attorney consult before filing.
Related forms
Schedule I works as a pair with Schedule J. Both feed Form 106Sum. The separate Means Test analysis is on Form 122A-1. See the complete forms index.