Money Market after Divorce

[Dimpledoo]

My ex and I finalized our divorce February 2024. Part of the agreement is he pays me 35k from our shared Money Market account, however he hasn’t given it to me yet. He wanted to wait until the money went back up because it crashed super hard right after we put money in. I think my name is still on the account but we’re filing taxes separately this year. If my name is on it I assume I have to claim it in my taxes and so does he? So will we both be taxed on the full amount? I’m not sure how that works or what my options are.

[DianeW777]

No, you will split any earnings for 2024.  Each of you would report half of the income for 2024. You will file as Single unless you qualify for Head of Household. The link below will help you decide, if you happen to have a dependent.

• What is my filing status?