divorce
My divorce stated that Iwas to receive 40 thousand dollors plus what ever it was over in my ex husbands thrift savings account. I understand that it was income and i have to pay taxes on it. But my question is since the divoce stated that I was to get 40 thousand is there a legal way for me to go after the ex for the 10 thousand it cost me in taxes
Asked on 2/07/07, 2:39 pm
1 Answer from Attorneys
Roger Traversa
Arjont Group (Law Office of Roger Traversa)
Re: divorce
You asked about taxes in a divorce settlement.
Actually, you need to speak with a CPA because you may be incorrect about the payment being income. Income taxes were paid on those funds when they were earned and more than likely your settlement was a division of the assets rather than income to you. Therefore taxes no taxes MAY be due.
As to the actual question: If the payment does count as income and taxes are due then that is your expense and you cannot "go after" your ex for the amount of taxes.
Again, check with a tax professional as a division of assets in divorce usually does not generate income.
Regards,
Roger
Answered on 2/07/07, 4:19 pm
