Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-20-2013, 11:02 AM
 
5 posts, read 42,123 times
Reputation: 18

Advertisements

I'm in the middle of divorce. I'm taking a settlement for the house and amount my ex owes for marital debt (credit cards). When I receive the money for the credit card debt, do I have to pay tax on it? I know the money my ex pays me for my share of the property (house) isn't, but the money to cover the credit debt I'm unsure on.

I intend to ask my lawyer about it but he's in court case right now (someone else) and hasn't gotten back to me on this yet.

My googling has not brought me a clear answer. Thanks for any input.
Reply With Quote Quick reply to this message

 
Old 07-20-2013, 04:53 PM
 
671 posts, read 1,118,201 times
Reputation: 765
Try asking your question on the turbotax community tax questions board. https://ttlc.intuit.com/questions/unanswered
My opinion is that it is not. Transfers between spouses are not taxable. Only periodic alimony payments after divorce are taxable.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top