In a divorce agreement, my ex pays me 50% of his yearly bonus after he pays taxes on it. This amount varies each year, so it is not in our alimony or child support calculations. It is just a payout. He pays taxes on his bonus. So after taxes he might get a bonus amount of 50,000. He writes me a check for 25,000. What do I need to do on my tax return?
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You do not need to report anything regarding the payment on your tax return.
Is this because he already paid taxes on it?
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