Idaho Bankruptcy Exemptions 2020

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Updated February 17, 2020

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Summary

It's important to understand what the exemptions for Idaho are and how they're most often used in a bankruptcy case.

How Do Exemptions Work?

When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.

That depends on which property exemptions you can use on your bankruptcy forms. They are called exemptions because they “exempt” -- or “excuse” -- certain property from being taken. In most cases, exemptions protect most day-to-day items that you own, unless you have expensive property like a house or a car.

Certain exemptions protect entire categories of property like retirements accounts, regardless of value. Other exemptions only protect specific property like a vehicle up to a certain value.

If you're looking for a deep understanding of bankruptcy exemptions, read this article.

Does Idaho allow federal exemptions?

Idaho does not recognize the federal exemptions.

Every state has its own set of property exemptions. And some states also allow you choose between their exemptions and a set of federal bankruptcy exemptions. When they do, they will generally let you to choose the system that is the best fit for you. Although some states allow you to use the federal bankruptcy exemptions, others do not.

Idaho Exemptions

11 U.S.C. § 522(b)(3)(C)

Most people use 11 U.S.C. § 522(b)(3)(C) to cover tax exempt retirement accounts. For single debtors filing, it has no coverage limit.

Idaho Code § 11-605 (3)

Most people use Idaho Code § 11-605 (3) to cover motor vehicles. For single debtors filing, it has a coverage limit of $7,000.

Idaho Code § 11-605 (1)

Most people use Idaho Code § 11-605 (1) to cover books, family pictures, heirlooms, household goods, musical instruments, collectibles of value, clothes, animals. For single debtors filing, it has a coverage limit of $7,500.

Idaho Code § 11-603 (2)

Most people use Idaho Code § 11-603 (2) to cover health aids. For single debtors filing, it has no coverage limit.

Idaho Code § 11-603 (3)

Most people use Idaho Code § 11-603 (3) to cover veterans' benefit. For single debtors filing, it has no coverage limit.

Idaho Code § 11-603 (3)

Most people use Idaho Code § 11-603 (3) to cover social security. For single debtors filing, it has no coverage limit.

Idaho Code § 11-603 (4)

Most people use Idaho Code § 11-603 (4) to cover earned income tax credit (except child and education tax credit). For single debtors filing, it has no coverage limit.

Idaho Code § 11-603 (4)

Most people use Idaho Code § 11-603 (4) to cover federal, state and local public assistance. For single debtors filing, it has no coverage limit.

Idaho Code § 11-603 (5); Idaho Code § 63-3022K

Most people use Idaho Code § 11-603 (5); Idaho Code § 63-3022K to cover medical benefits amount in medical savings account. For single debtors filing, it has no coverage limit.

Idaho Code § 11-603 (6)

Most people use Idaho Code § 11-603 (6) to cover unemployment compensation. For single debtors filing, it has no coverage limit.

Idaho Code § 11-604 (1)(a); Idaho Code § 41-1834

Most people use Idaho Code § 11-604 (1)(a); Idaho Code § 41-1834 to cover disability benefits. For single debtors filing, it has no coverage limit.

Idaho Code § 11-604 (1)(b)

Most people use Idaho Code § 11-604 (1)(b) to cover alimony, child support. For single debtors filing, it has no coverage limit.

Idaho Code § 11-604 (1)(c)

Most people use Idaho Code § 11-604 (1)(c) to cover wrongful death recoveries. For single debtors filing, it has no coverage limit.

Idaho Code § 11-604 (1)(c)

Most people use Idaho Code § 11-604 (1)(c) to cover personal injury recovery. For single debtors filing, it has no coverage limit.

Idaho Code § 11-604 (d); Idaho Code § 41-1833

Most people use Idaho Code § 11-604 (d); Idaho Code § 41-1833 to cover life insurance (beneficiary other the the insured). For single debtors filing, it has no coverage limit.

Idaho Code § 11-604A

Most people use Idaho Code § 11-604A to cover pensions and other retirement plans. For single debtors filing, it has no coverage limit.

Idaho Code § 11-604A (4)(b)

Most people use Idaho Code § 11-604A (4)(b) to cover college savings account. For single debtors filing, it has no coverage limit.

Idaho Code § 11-605 (11); Idaho Code § 11-207

Most people use Idaho Code § 11-605 (11); Idaho Code § 11-207 to cover unpaid wages - 75% or 30 times federal hourly, limit is per calendar year. For single debtors filing, it has a coverage limit of $1,500.

Idaho Code § 11-605 (2)

Most people use Idaho Code § 11-605 (2) to cover jewelry. For single debtors filing, it has a coverage limit of $1,000.

Idaho Code § 11-605 (3)

Most people use Idaho Code § 11-605 (3) to cover office equipment, furnishings, and supplies. implements, books and tools of trade. For single debtors filing, it has a coverage limit of $2,500.

Idaho Code § 11-605 (4)

Most people use Idaho Code § 11-605 (4) to cover food, water and storage - for 12 months. For single debtors filing, it has no coverage limit.

Idaho Code § 11-605 (6)

Most people use Idaho Code § 11-605 (6) to cover arms, uniforms and accoutrements for peace officers. For single debtors filing, it has no coverage limit.

Idaho Code § 11-605 (7)

Most people use Idaho Code § 11-605 (7) to cover crops on 50 acres. For single debtors filing, it has a coverage limit of $1,000.

Idaho Code § 11-605 (7)

Most people use Idaho Code § 11-605 (7) to cover water rights to 160 inches of water. For single debtors filing, it has no coverage limit. This exemption has a limit to the number of assets it can cover.

Idaho Code § 11-605 (8)

Most people use Idaho Code § 11-605 (8) to cover firearms. For single debtors filing, it has a coverage limit of $750. This exemption has a limit to the number of assets it can cover.

Idaho Code § 11-605 (9)

Most people use Idaho Code § 11-605 (9) to cover unmatured life insurance (other than credit life insurance). For single debtors filing, it has no coverage limit.

Idaho Code § 11-605 (5)

Most people use Idaho Code § 11-605 (5) to cover public buildings. For single debtors filing, it has no coverage limit.

Idaho Code § 11-606

Most people use Idaho Code § 11-606 to cover proceeds for damaged exempt property. For single debtors filing, it has no coverage limit.

Idaho Code § 23-514

Most people use Idaho Code § 23-514 to cover liquor permit. For single debtors filing, it has no coverage limit.

Idaho Code § 41-1835

Most people use Idaho Code § 41-1835 to cover group life insurance benefits. For single debtors filing, it has no coverage limit.

Idaho Code § 41-1836

Most people use Idaho Code § 41-1836 to cover annuity proceeds - to $1,250 per month. For single debtors filing, it has a coverage limit of $1,250.

Idaho Code § 41-1930

Most people use Idaho Code § 41-1930 to cover life insurance (if clause prohibits). For single debtors filing, it has no coverage limit.

Idaho Code § 41-3218

Most people use Idaho Code § 41-3218 to cover fraternal society benefits. For single debtors filing, it has no coverage limit.

Idaho Code § 45-514

Most people use Idaho Code § 45-514 to cover building materials. For single debtors filing, it has no coverage limit.

Idaho Code § 50-1517

Most people use Idaho Code § 50-1517 to cover police officer retirement. For single debtors filing, it has no coverage limit.

Idaho Code § 53-3-307

Most people use Idaho Code § 53-3-307 to cover partnership property. For single debtors filing, it has no coverage limit.

Idaho Code § 55-1008

Most people use Idaho Code § 55-1008 to cover homeowners' insurance proceeds. For single debtors filing, it has a coverage limit of $100,000.

Idaho Code § 55-1011

Most people use Idaho Code § 55-1011 to cover erisa benefits. For single debtors filing, it has no coverage limit.

Idaho Code § 56-223

Most people use Idaho Code § 56-223 to cover aid for blind and disabled. For single debtors filing, it has no coverage limit.

Idaho Code § 56-223

Most people use Idaho Code § 56-223 to cover general assistance. For single debtors filing, it has no coverage limit.

Idaho Code § 59-1317

Most people use Idaho Code § 59-1317 to cover public employee retirement. For single debtors filing, it has no coverage limit.

Idaho Code § 72-1020

Most people use Idaho Code § 72-1020 to cover crime victims' compensation. For single debtors filing, it has no coverage limit.

Idaho Code § 72-1422

Most people use Idaho Code § 72-1422 to cover firefighter retirement. For single debtors filing, it has no coverage limit.

Idaho Code § 72-802

Most people use Idaho Code § 72-802 to cover workers' compensation. For single debtors filing, it has no coverage limit.

Idaho Code § 11-605 (10)

Most people use Idaho Code § 11-605 (10) to cover wildcard. For single debtors filing, it has a coverage limit of $800.

Idaho Exemptions F.A.Q.

Bankruptcy exemptions protect the equity in certain property. Property that is exempt cannot be used to pay debts. Therefore, a debtor is permitted to keep all exempt property. If you have more questions about exemptions, check out this article.

For expanded descriptions, go to the exemption page for Idaho. Below are common questions people have about assets and exemptions:

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