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June 7, 2021
Question

Is the Credit taxable?

  • June 7, 2021
  • 1 reply
  • 0 views

In our divorce settlement, my ex-wife and I agreed to give me a monetary credit for the mortgage loan principal paid after our separation date, because, after that date, our monthly mortgage loan payments were paid solely by me. The credit was deducted from the sale proceeds of our house. Is the credit taxable?

1 reply

Employee
June 8, 2021

Transfer of assets pursuant to a divorce agreement is not taxed.