Manuel P asked:
Last year, my ex-wife and I agreed on the settlement of our house after our divorce, which is 50/50. She and I agreed not to sell the house (unless she buys me out right before then) until my last child turns eighteen, which will be in 11 years. I was given $25,000 last year upfront from my ex-wife as part of the settlement agreement from the house. I am currently on SSDI too. Don’t know if that will be affected too.
Last year, my ex-wife and I agreed on the settlement of our house after our divorce, which is 50/50. She and I agreed not to sell the house (unless she buys me out right before then) until my last child turns eighteen, which will be in 11 years. I was given $25,000 last year upfront from my ex-wife as part of the settlement agreement from the house. I am currently on SSDI too. Don’t know if that will be affected too.
What I am really trying to say is how much (approximately) do I have to pay in taxes for the $25,000 I received from my ex? Being on disablility, how will that affect me too.
Caffeinated Content – Members-Only Content for WordPress
Best Deal Ads :
One Response to 'How much money will be taxable from a divorce settlement?'
Leave a Reply
Resources
Quotes
Blog Categories
Monthly Archives
By Month
- July 2010 (10)
- June 2010 (13)
- May 2010 (25)
- April 2010 (1)
- October 2009 (5)
- September 2009 (16)
- August 2009 (32)
- July 2009 (48)
- June 2009 (86)
- May 2009 (37)
- April 2009 (27)
- March 2009 (24)
- February 2009 (5)
- January 2009 (7)
- December 2008 (11)
- November 2008 (15)
- October 2008 (24)
- September 2008 (30)
- August 2008 (85)
- July 2008 (101)
- June 2008 (92)
- May 2008 (131)
- April 2008 (152)
- March 2008 (115)
- February 2008 (95)
- January 2008 (120)
You shouldn’t have to pay income taxes on the $25,000. I’m not sure though if it will affect your SSDI.