2006-12-12 08:10:13 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Gem's answer is correct. Just make sure the 401k proceeds are rolled directly over to a new IRA. If the check comes to you in your name, you'll have to pay taxes and penalties. Talk to your lawyer or talk to someone at Smith Barney. They helped me out when I was in that situation.
2006-12-12 08:21:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Probably none. It is already your stuff bought and paid for with money you already paid taxes on.
Almost all marital assets granted in a divorce are considered a non-taxable occurance. You will have to go and set up another 401k to roll hers into so that you do not experience the 10% IRS penalty and addition to your income. Other than that, not taxable.
The home sale would only be taxable if your portion of it exceeds your lifetime exemption from home sales. I think that used to be $250k. Talk to a tax guy, he will know.
Spousal support/alimoney is a taxable occurance.
Unless your divorce decree specifies otherwise.
Well, either Congrats or I'm Sorry. Good luck either way.
2006-12-12 16:15:54 · answer #2 · answered by Gem 7 · 0⤊ 0⤋
Generally, distribution of property settlements pursuant to a divorce is a nontaxable event. The only exception to that is if the recipient of the property is a nonresident of the US for tax purposes. In that situation, then statutory nonresident withholding of 30% would apply.
2006-12-12 16:21:11 · answer #3 · answered by jseah114 6 · 0⤊ 0⤋
outside of the sale of the house.....those are not earned assets should not be too bad.
2006-12-12 16:13:55 · answer #4 · answered by Monte T 6 · 0⤊ 0⤋
SHUT THE F*CK UP YOU GOLD DIGGER, MEN LIKE YOU DISCUSS ME. SHE SHOULD HAVE SIGNED A PRENUPTIAL AGREEMENT ON YOUR @SSSSS. AND WHEN SHE GOT READY TO DITCH YOU, YOU WOULD HAVE LEFT WITH NOTHING BUT THE BAGS YOU WALKED IN WITH AND TELL ME WHAT KIND OF TAXES YOU'D HAVE ON THAT!
2006-12-12 16:21:13 · answer #5 · answered by patricia j 2 · 0⤊ 0⤋