turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

wgricks
Returning Member

Community Property

I was divorced all of 2019. I received community property income from my ex for art that he painted and royalties from books he illustrated.  I file HOH. How do I enter the income?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Community Property

Community property is property that you had ownership interest in so there is not income to report for property that you already owned.    If you will continue to receive royalties directly form the payer then you should receive a 1099-MISC to report it.    If the ex receives the royalty and then pays you as part of the divorce settlement then the spouse must pay any tax and it is probably non-reportable alimony to you.

 

If assets were sold then the divorce decree should specify who is to pay the tax.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
wgricks
Returning Member

Community Property

The divorce decree states that "The community property income from the community property Artwork
shall be taxable to each party equally". He is in posession of the paintings and prints that I have a 50% ownership of. The only documents I receive from my ex are royalty statements from the book publisher and receipts for the sale of the original paintings/prints.  The question I have is how do I enter the income received on my tax return using turbo tax.

Community Property

Art has no tax value until sold.

 

Other income would be miscellaneous income entered under "Less Common income -> Miscellaneous Income-> Other reportable income -> Any taxable income.

 

Screen Shot 2020-07-13 at 11.51.42 AM.jpgScreen Shot 2020-07-13 at 11.51.42 AM.jpg

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies