Is cash received as part of divorce division of property one time tax free equalization payment taxable?

[vcvcvcvc]

As part of the divorce division of property, I am receiving an one-time tax-free equalization payment of an amount from both my ex's Stock Brokerage and Retirement accounts. Is that payment a taxable income to me?

I am reading mix reviews about if it's part of property settlement hence tax free or if it's part of alimony hence it's taxable

Thank you for everyone's help

[AlanT]

No, it is not taxable.  Money that is transferred between (ex)spouses as part of a divorce settlement to equalize the marital assets is not taxable to the recipient and not deductible by the payer.

Remember, if it is not labeled as alimony or maintenance in the divorce decree, then it is not treated as such.   

[vcvcvcvc]

Hello there, thank you so much for your quick reply. So even it's received as cash payment (cheque to be exact). As long as it's not specifically labelled as alimony or maintenance as part of the divorce paper. It's not treated as such.

[AlanT]

Correct.