turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I retired from LA State Government last year. I was required to pay my ex wife a one time payment of $34,587.73 from my DROP account. Is this amount tax deductable?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DianeW777
Expert Alumni

I retired from LA State Government last year. I was required to pay my ex wife a one time payment of $34,587.73 from my DROP account. Is this amount tax deductable?

No, it would not be a tax deduction.  It would seem the Deferred Retirement Option Plan (DROP) would issue the ex wife a 1099-R for the distribution to her. If the payment was issued to you on a 1099-R you should check with the plan administrator to see if it should be issued to your ex wife.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies