Re: Separated and received cash settlement ...

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

posted

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.

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Separated and received cash settlement ...