Temporary income on child support

[fred.taylor]

What is the name of your state? Wisconsin

I recently had to take money out of an Ira and
Sell off a timeshare to pay off debt. Both will increase my total income by about $20k this year estimate. Do I need to report this income to child support? I just received most of this money yesterday. The reason I’m asking is my actual work earnings are less this year because of a new job and I don’t know if that just factors into the equation on determining if my support gets adjusted. Also next years earnings for me will be about $10k less than this year if all stay the same with no temporary income in the equation.

 

[fred.taylor]

I stated the end of my post wrong. Ex of my earnings difference for 3 years.
2017 50k
2018 70k
2019 40k

 

[LdiJ]

I stated the end of my post wrong. Ex of my earnings difference for 3 years.
2017 50k
2018 70k
2019 40k

One time economic events like taking money out of an IRA or selling property usually do not factor into child support calculations. If someone tries to include one time economic events into child support then the payer needs to argue against it.

 

[Ohiogal]

Posting history.