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Level 2
January 12, 2023
Question

Extended divorce property payments

  • January 12, 2023
  • 2 replies
  • 10 views

I got divorced this past October. In lieu of forcing my ex husband to buy me out of our marital home (because he could not have done so without selling), he paid a large partial payment when I moved out and is paying smaller monthly installments to make up the rest. Are the monthly payments considered taxable income?

2 replies

Alumni - Champ
January 12, 2023

No.   You are dividing marital aassets.

RibaykaAuthor
Level 2
January 12, 2023

Thank you, that was my initial thought, but I wasn't positive the length of time didn't change things.