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A couple I know divorced and it was official before the end ...

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A couple I know divorced...
A couple I know divorced and it was official before the end of the year of 2007. They had a business together set up only as a DBA in Texas. In the divorce decree the wife was awarded the business and was ordered to pay all taxes and take care of all filings; the business no longer exists because she sold everything. But how is that supposed to affect the way the taxes are filed for 2007? Does she file on her own or does she still need to have his name on the filings? And how does he do his end?
Submitted: 9 years ago.Category: Tax
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Answered in 8 minutes by:
5/1/2008
Tax Professional: Merlo, Accountant replied 9 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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HelloCustomer

Since you have indicated that the divorce was final before the end of the 2007 calendar year, and the divorce decree specifically stated that the wife was responsible for all filings and all taxes on the business, then for the calendar year of 2007 the wife will file on her own as single (or head of household if it applies) and his name will not be on the return. The husband will do the same.

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Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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