Solved: Where do i report income received as part of a divorce settlement
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
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?
1 Best answer

Accepted Solutions
Level 6

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"

View solution in original post

1 Reply
Level 6

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"

View solution in original post

Dynamic Ads
v
Privacy Settings