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Level 1
November 16, 2022
Question

Reporting money received from divorce

  • November 16, 2022
  • 1 reply
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I recently went through divorce and got some money out of it. Should I report that money in my taxes ? If yes, how do I categorize it?

 

Is that money taxable?

    1 reply

    Level 8
    November 16, 2022

    It depends the form the money took. Was it a portion of the money that already belonged to you and/or your ex? If so, then no. It is not income. Is it alimony? See the link below. If you got a portion of his 401k or pension, then yes, as it will be income.

     

    https://ttlc.intuit.com/turbotax-support/en-us/help-article/other-articles/need-report-alimony-received-former-spouse/L2uPI8nEJ_US_en_US