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lgls
Level 1

business equity payment from divorce

Due to divorce, I received a lump sum payment as an equity payment of my half of a business. I think I understand this to be non-taxable - is that correct? And where do I report this income on TurboTax online?

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1 Reply
MinhT1
Expert Alumni

business equity payment from divorce

Settlements due to divorce are in general non-taxable and not reported on your tax return.

 

Please read this IRS document for more information.

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