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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
You don't deduct it or report it anywhere on your tax return since it is not alimony. A QDRO settlement (an allocation of your retirement due to divorce settlement) is a property transfer to you and is not deducted on your tax return, nor reported.
Had it been specifically defined as alimony in the divorce, you would have been able to deduct it as such. As it is now, it is not deductible nor reported by you. It will be taxable on your ex-spouse's tax return as income.
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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
i am receiving the QDRO settlement from my ex military spouse, do i claim it as taxable income even thou i dont receive it thru DFAS but as a directly deposit from ex spouse.
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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
A QDRO is not a payment from your ex-spouse. It is a retirement account distribution that is yours and goes directly to you.
It is taxable and should be reported on your tax return. You should receive a 1099-R that would represent the income that you received.
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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
Thank you for the comments very helpful, I just need to clarify and or rephrase my question, if an ex military has an allotment going to his ex spouse from his retirement pay and a QDRO was never done to figure out how much he would give her, so there is no 1099 will the ex spouse still have to claim as income on her taxes.
thank you
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I pay my exwife part of my pension due to a divorce settlement but it's not considered alimony. Where do I put this payment?
If a QDRO was never executed, then no, the ex-spouse would not have to claim it as retirement income.
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