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Is Divorce settlement taxable?

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D

disneykid52

Member
What is the name of your state (only U.S. law)? Fl

Just heard that Tiger Woods total payout to his ex was 110 million. Does she have to pay tax on that?
 


M

mistoffolees

Senior Member
As always:

- Property division is not taxable

- Child support is not taxable

- Alimony is taxable to her and tax exempt to him as long as it meets specific guidelines.
 
LdiJ

LdiJ

Senior Member
mistoffolees said:
As always:

- Property division is not taxable

- Child support is not taxable

- Alimony is taxable to her and tax exempt to him as long as it meets specific guidelines.
Click to expand...
With some exceptions...retirement fund payouts can be taxable to the recipient if they are not rolled over into retirement accounts for the recipient, for example.
 
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