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New Member

Separated and received cash settlement ...

I forgot to include that when filing my taxes this year...

 

1) will I be penalized?
2) can I file it for next year?
3) will I be taxed on a cash settlement? The money was pulled from refinancing the condo

1 Reply
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Expert Alumni

Separated and received cash settlement ...

If you received a cash settlement from refinancing your condo, the amount you received is not taxable to you.

 

The amount you received does not need to be reported on your tax return.

 

@jclmnt

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