Tax Refund Explanation/Answer in Stipulation Needed-
In my divorce Stipulation, it reads: Any 2019 refund realized or tax liability incurred shall be shared pro-rata based upon the respective reported incomes of the Parties.
What does this mean? He made $69,828 and I made $44,116
Federal Refund is: $2,604. State Refund is: $3,012
Husband is claiming I receive 22% ($572.88) of Federal and nothing from the State.
Can anyone please help me figure this out? What am I supposed to receive?
Thank you in advance.
1 Answer from Attorneys
Assuming you filed jointly and each pay both Fed. and State taxes is see a 60% , 40% split.