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Ask Lane Your Own Question
Category: Finance
Satisfied Customers: 12020
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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In a divorse how much taxes would your wife pay per 100000.00

Customer Question

in a divorse how much taxes would your wife pay per 100000.00 she gets about
Submitted: 2 years ago.
Category: Finance
Expert:  Lane replied 2 years ago.
Hi,That will depends on HOW she gets it....If receved as a property settlement, there's no taxable event (treated, tax-wise, as a gift). HOWEVER, she will take the original basis (so lets say this is something besides cash, like the house ... If she ever SELLS, then she will have a considerable taxable gain because she takes what's called "carry-over basis" there).If it's considered ALIMONY, then that's taxed a ordinary income (and deductible by you), just as if it were employee pay. And of course the tax she pays on THAT as she gets it will dependin the amounts, what tax brackets that amount puts her in, etc. (I can show you the brackets for filing as single is you like)..If it's a transfer of an IRA or 401(k), then there's no taxable event at the rime of the transfer, if it's transferred to her own IRA (the right way to do that) - this way the ex that's giving UP the IRA or 401(k) doesn't pay any taxes - then, of course, when she pulls money out OF that IRA, she's be taxed as anyone else pulling money out of an IRA.And finaly if it's child support, it's not deductible by you and not taxable to her at all (just the opposite of alimonsy, where the payer deducts and the receiver has to report asi ncome)
Expert:  Lane replied 2 years ago.
Please let me now if you have any questions at all.Lane.If this HAS helped, I'd appreciate a positive rating, using the smiley faces or stars on your screen ... that's the ONLY WAY I'll be credited for the work here.
Customer: replied 2 years ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Lane replied 2 years ago.
Hi,Looks like you have requested a phone consult? Is that correct?
Expert:  Lane replied 2 years ago.
OK I still don't see you coming into the question here.If this has helped, I would appreciate a positive rating using the stars or smiley faces on your screen.This is the only way I'll be credited for the work here.BUT, if you need more... please let me know...Lane