topic Re: Monies from Divorce in Deductions & credits

Monies from Divorce

Traci C — Mon, 09 Mar 2026 05:31:12 GMT

I was divorced in 2007. A part of the divorce decree was that when the business sold, I got $10K out of the $24K in divorce decree for reimbursement of start-up business expenses. Is it taxable?

Re: Monies from Divorce

JillS56 — Sun, 20 Feb 2022 03:06:57 GMT

No, if the proceeds from the business sale that you are receiving are to reimburse you for start-up business expenses, no it is not taxable. You are receiving money that you paid out or invested in the business, this is not considered income.

Now if you received more than the $24,000 of start-up costs, then anything you received over the $24,000 would be taxable.

Re: Monies from Divorce

Traci C — Mon, 07 Mar 2022 16:36:49 GMT

Thank you!