I paid my exwife $50K for a divorce settlement on our house in cash. does she need to claim this on her taxes as income?
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Not if it was a for a division of assets.
Spousal maintenance (alimony) is deductible for the payer and taxable income to the payee.
Child support is neither taxable or deductible.
Not if it was a for a division of assets.
Spousal maintenance (alimony) is deductible for the payer and taxable income to the payee.
Child support is neither taxable or deductible.
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