What is the name of your state (only U.S. law)? CA
I was married for 20+ years and am in process of finalizing the divorce settlement agreement. We are trying to settle on me potentially buying the community property from her. We were a single earning family which was me, so I contributed solely to all house payments, etc. We are close to agreeing on a purchase price of the house, but I am now told that my support payments will increase as a result of the tax benefit received from mortgage interest. The argument is that my net income will be higher and thus will be paying more in support per dissomaster calculations.
Supposedly, the dissomaster calculations line "Ded. Interest expense" is where my mortgage interest paid must be stated.
Please advise.
Thanks
I was married for 20+ years and am in process of finalizing the divorce settlement agreement. We are trying to settle on me potentially buying the community property from her. We were a single earning family which was me, so I contributed solely to all house payments, etc. We are close to agreeing on a purchase price of the house, but I am now told that my support payments will increase as a result of the tax benefit received from mortgage interest. The argument is that my net income will be higher and thus will be paying more in support per dissomaster calculations.
Supposedly, the dissomaster calculations line "Ded. Interest expense" is where my mortgage interest paid must be stated.
Please advise.
Thanks