Legal Question in Tax Law in California

Re: divorce, property settlement,taxes

I received a cash settlement and my ex has the house. Do I have to pay tax on my ''buyout'' money?


Asked on 12/11/06, 6:24 pm

1 Answer from Attorneys
Donald Field Donald L. Field, Jr., Attorney at Law

Re: Re: divorce, property settlement,taxes

this may be affected by the language of your marital settlement agreement. you should consult a tax attorney or cpa.

for general information see:

http://www.irs.gov/publications/p504/index.html

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Answered on 12/12/06, 11:22 am


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