Divorce Tax Tips: 5 Most Common Divorce Tax Questions in Nebraska
Do I have to pay income tax when my ex-spouse and I transfer property or pay a property settlement per the terms of our divorce decree? No. The transfer of property (or payment of a property settlement payment) pursuant to a divorce decree is not taxable. However, you’ll want to keep in mind the future tax consequences of a subsequent sale, withdrawal, or transfer of assets that you received in a property settlement. Does the payment or receipt of child support impact my taxes? No. Child support is not taxed as income to the parent who receives it nor deductible
