How Much Money Will Be Taxable From A Divorce Settlement?
Posted on | January 29, 2010 |
Last year, my ex-wife and I agreed on the settlement of our house after our divorce, which is 50/50. She and I agreed not to sell the house (unless she buys me out right before then) until my last child turns eighteen, which will be in 11 years. I was given $25,000 last year upfront from my ex-wife as part of the settlement agreement from the house. I am currently on SSDI too. Don’t know if that will be affected too.
What I am really trying to say is how much (approximately) do I have to pay in taxes for the $25,000 I received from my ex? Being on disablility, how will that affect me too.
I am considering starting my own business but am looking for unsecured small business loans because I don’t have much collateral. It seems difficult to raise money for my small business but I might just have to give it a go!
Posts Related to This Article
Comments
One Response to “How Much Money Will Be Taxable From A Divorce Settlement?”
Leave a Reply
January 29th, 2010 @ 2:07 pm
You shouldn’t have to pay income taxes on the $25,000. I’m not sure though if it will affect your SSDI.