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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29964
Experience:  Taxes, Immigration, Labor Relations
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Am i entitled to any pass through income while divorcing?

Customer Question

Am i entitled to any pass through income while divorcing? The company has paid the taxes of ~$1,000,000 over the past nine years.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

Can you provide a bit more information?..

What exactly do you mean under "pass through income" ?

What type of company do you have? what is your ownership in this company?

Customer: replied 1 year ago.
It's a large corporation and stock dividend are very high, as much as $400,000 at the end of the year for the stock holders. The owner gives the stockholders money to pay the taxes on the gains.
Expert:  Lev replied 1 year ago.

Dividends are taxable for the recipient - that is correct.

If you own shares in the corporation - that is your taxable income.
If you do not own shares - that is not your income.

Expert:  Lev replied 1 year ago.

.

Now you said "The owner gives the stockholders money" - YOU are a co-owner..
So it is not clear whom exactly do you mean.

Shareholders ARE owners.

Second - "give money" - it is not clear what exactly do you mean - are these ADDITIONAL dividends?

How these "money to pay the taxes" are reported?