Question

Am I allowed to write off monies paid due to a divorce and from my retirement account?

Forum|Forum|5 years ago
May 12, 2021
1 reply
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I estimate that I walked away from 200k and paid an additional 140k out of my retirement account. Do I get to deduct that from my 2020 taxes?

TurboTax Deluxe Online

macuser_22

Employee

No. If a QDRO then your ex spouse would get their own 1099-R and pay the tax on it.

If you took the money out and paid the ex then absent a written divorce decree that says who pays the tax then it is your distribution and you are liable for the tax. Your divorce attorney should have specified that in the decree.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**