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simula5776
New Member

Where do i report income received as part of a divorce settlement

I was bought out of my house due to a divorce, I received half the equity due to this. Is this money taxable income?
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MinhT
Expert Alumni

Where do i report income received as part of a divorce settlement

Property (or cash) received in a divorce settlement is not taxable. It is not entered on your tax return.

Alimony received is taxable. Alimony paid is tax deductible.

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MinhT
Expert Alumni

Where do i report income received as part of a divorce settlement

Property (or cash) received in a divorce settlement is not taxable. It is not entered on your tax return.

Alimony received is taxable. Alimony paid is tax deductible.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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