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tax-doctor, Tax Preparer
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Experience:  Federal, State and local income tax preparation
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My divorce lawyer dropped the ball and did not advise me of

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My divorce lawyer dropped the ball and did not advise me of the child support implications of the custody agreement I signed. She admittedly did not practice to the standard of care. As a result I am now paying $900/month (in after tax money). My attorneys malpractice lawyer will settle, but I need to know whether I will be taxed on this payment. It is only about 50% of the total that I will be out of pocket over the years with my 3 kids. If it is taxable then I need to get them to gross it up. Thanks

Fred
Submitted: 2 years ago.
Category: Tax
Expert:  tax-doctor replied 2 years ago.

Hello, my name is XXXXX XXXXX I'm happy to assist you today. If I'm understanding your situation and question correctly you want to know if the "child support" that you'll be receiving while your children live with you will be taxable or not? Typically, alimony rec'd. is taxable and child support rec'd. is not taxable, but it does depend on where and for what % of the yr your children live? If I've answered your question to your satisfaction already then please rate my answer OK or higher at this time so that I'm paid for it, and if not, please post follow-up info, and I'll reply asap, thank you!

Expert:  tax-doctor replied 2 years ago.
I noticed that you've reviewed my answer, but you hace still not rated it. I am not paid anything for my answers unless you're satisfied and rate my answer OK or higher. If I may be of further assistance or can offer additional clarification please ask, otherwise please rate my answer at this time, thank you!
Customer: replied 2 years ago.

you did not answer my question! Read my question again

Expert:  tax-doctor replied 2 years ago.
The child support payments are not deductible on your income tax returns, so you should request an adjustment to makeup for the shortfall. If you have anymore questions on this topic or require clarification please ask, otherwise please rate my answer at this time, so that I'm paid for it, thank you!
Customer: replied 2 years ago.

Please read the question! I am getting a settlement from my lawyer since she did not advise me that I would owe child support based on the custody arrangement I negotiated (and she reviewed). As a result I owe a lot of child support even though I am the primary custodian. My question is "is this settlement taxable ?" It is to partially cover the child support I am paying, and I am paying with after tax dollars so I dont think it should be taxable.

Expert:  tax-doctor replied 2 years ago.
No, under these circumstances this specific settlement would not be taxable as income on your income tax return(s).
tax-doctor, Tax Preparer
Category: Tax
Satisfied Customers: 637
Experience: Federal, State and local income tax preparation
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