Legal Question in Family Law in Kentucky

divorce,,taxable income

I am about to settle for 50,000 on my divorce,,,wife gets kids ,house & no other alimony or child support because she has lots of money,,,Is the 50,000 i receive from settlement taxable??????

Asked on 1/31/08, 8:06 pm

1 Answer from Attorneys

Gregory Napier Troutman & Napier, PLLC

Re: divorce,,taxable income

Under what you described, no it is not taxable. If you received maintenance (alimony) it would be taxable.

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Answered on 2/01/08, 1:52 pm

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