QUESTION
Will I owe income tax on my lump sum divorce settlement?
Asked on Aug 11th, 2022 on Divorce - Florida
More details to this question:
I signed a prenup in the state of Florida. It states that in the event of divorce "within 35 days of the entry of the final judgment of dissolution of marriage my husband shall make a one time lump sum payment". Will I, as the ex wife, need to pay any taxes on this payment.
1 ANSWER
Dear Anonymous:
Lucky for you the answer is no. Alimony used to be taxable to the recipient spouse, but after overhalls to the federal tax code, commencing in 2019, alimony payments are no longer taxable.
Best of luck,
Cindy S. Vova
Law Offices of Cindy S. Vova, P.A.
Broward/Boca Raton
954-316-3496/561-962-2785
info@vovalaw.com
Answered on Aug 12th, 2022 at 6:00 AM