New Member

Where do i report income received as part of a divorce settlement

I was bought out of my house due to a divorce, I received half the equity due to this. Is this money taxable income?
Expert Alumni

Get your taxes done using TurboTax

Property (or cash) received in a divorce settlement is not taxable. It is not entered on your tax return.

Alimony received is taxable. Alimony paid is tax deductible.

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