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Chrissy822
February 3, 2020
Question

Where do we report divorce settlement payouts? We got a retirement cash payout, and were taxed on 100% of it. But (after taxes) 50% of it was pd to the ex.

  • February 3, 2020
  • 1 reply
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1 reply

macuser_22
macuser_22
Employee
February 3, 2020

Who pays the tax is something that the divorce settlement should have addressed.  If the 1099-R is in you name then you must pay the tax.    Whether you can subtract half that tax form the amount you pay to your ex is a question for your divorce attorney.  There is nothing to enter on a tax return for a divorce settlement of a retirement account.

**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.**
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