Income Question

[Toniok2k]

What is the name of your state? FLA

I have a daughter who will be 5 in August. It's been 3 years since I went through mediation with my ex-girlfriend to set my support payments. I haven't had contact with my daughter since she was 2 due to my ex making up stories to get restraining orders against me. (Long Story) She went to Dept. of Revenue a few months ago to request a modification but canceled it. I just found out that she sold her home. If I request a modification order, does she have to claim the sale of the house as income? Will my payments get reduced for a few years before she petitions another modification?

Before all the flames/comments come in. Yes, I pay my support on a regular basis and yes this is how petty things have become with my ex.What is the name of your state?

 

[momofrose]

I do not believe that proceeds from the sale of a house count as income..

D

 

[NotSoNew]

i was going to say the same thing, but i could be wrong.

 

[LdiJ]

Proceeds of the sale of a home definitely DO NOT count as income for child support purposes.

 

[justthestepmpm]

What is the name of your state? FLA

I have a daughter who will be 5 in August. It's been 3 years since I went through mediation with my ex-girlfriend to set my support payments. I haven't had contact with my daughter since she was 2 due to my ex making up stories to get restraining orders against me. (Long Story) She went to Dept. of Revenue a few months ago to request a modification but canceled it. I just found out that she sold her home. If I request a modification order, does she have to claim the sale of the house as income? Will my payments get reduced for a few years before she petitions another modification?

Before all the flames/comments come in. Yes, I pay my support on a regular basis and yes this is how petty things have become with my ex.What is the name of your state?

The income she received from the sale of her house doesn't matter! Why are you wanting to modify child support? Are you making more than you were 3 years ago? If you are making 20% LESS than you were 3 years ago you could modify it.

 

[Toniok2k]

The income she received from the sale of her house doesn't matter! Why are you wanting to modify child support? Are you making more than you were 3 years ago? If you are making 20% LESS than you were 3 years ago you could modify it.

I'm not making less, I thought that it could be viewed as income. I thought that this was the reason why she didn't follow through with her income modification. Guess I'll keep my mouth shut.

 

[ceara19]

The income she received from the sale of her house doesn't matter! Why are you wanting to modify child support? Are you making more than you were 3 years ago? If you are making 20% LESS than you were 3 years ago you could modify it.

After three years, there doesn't have to be ANY reason to file for the modification.

Toniok2k - Just because the sale of the house doesn't count as income, there must be some reason she decided to drop the proceedings. Is she working at a different job for substancially more money? Maybe she's worried about the visitation matter being revisited also? If you feel as though the matter should be reviewed, by all means, ask for the hearing.

 

[nicetryadmin]

What is the name of your state? FLA

I have a daughter who will be 5 in August. It's been 3 years since I went through mediation with my ex-girlfriend to set my support payments. I haven't had contact with my daughter since she was 2 due to my ex making up stories to get restraining orders against me. (Long Story) She went to Dept. of Revenue a few months ago to request a modification but canceled it. I just found out that she sold her home. If I request a modification order, does she have to claim the sale of the house as income? Will my payments get reduced for a few years before she petitions another modification?

Before all the flames/comments come in. Yes, I pay my support on a regular basis and yes this is how petty things have become with my ex.What is the name of your state?

Please look up the definition of "income."

 

[Toniok2k]

Please look up the definition of "income."

Income
the financial gain (earned or unearned) accruing over a given period of time

 

[ceara19]

Income
the financial gain (earned or unearned) accruing over a given period of time

The sale of a house would be a lump sum payment, not income.

 

[GrowUp!]

Actually, the sale of a house *could* be used. There are specific factors involved, though.

 

[nextwife]

THe sale of Real estate may, or may not, be income. Depends upon what was paid, what was put into it, and what it sells for. Sometimes RE sells for less than what was paid or the same.

The PROFIT from the sale of a PRINCIPAL residence is, in general terms, exempt from being considered as income, up to $250,000 for an in individual and $500,000 for a couple. There are some limited qualifiers, but that is the jist of it. It is also exempt from being teated as income for tax purposes if it is reinvested within two years into a new principal residence.