Go Back   CDN Business Directory > Main Category > Taxes

 
 
Thread Tools Display Modes
 
Old 01-25-2005, 05:51 AM
Paul A Thomas
Guest
 
Posts: n/a
Default Re: Divorce with Retirement Monies

"Ekaine Turner Grey" <etg[at]walrus.net> wrote

- quote -

> About fifteen years ago, my husband of 30 years and I
> divorced.
> As part of the divorce decree, I was to receive part of his
> retirement monies.
> He retired in 2004 and I have the 1099-R from the company
> which handles his company's retirement account for
> approximately $10,000 which I received this last year.
> Is this treated just like any other income for purposes of
> calculating federal income tax?


For the most part, yes. Sounds like Line 16 (Form 1040) is
what you are looking for. If any federal or state taxes
were withheld, they get added to any other withholding and
reported on Line 63 (and the appropriate state line on those
returns).

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 01-24-2005, 08:23 PM
Ekaine Turner Grey
Guest
 
Posts: n/a
Default Divorce with Retirement Monies

About fifteen years ago, my husband of 30 years and I
divorced.

As part of the divorce decree, I was to receive part of his
retirement monies.

He retired in 2004 and I have the 1099-R from the company
which handles his company's retirement account for
approximately $10,000 which I received this last year.

Is this treated just like any other income for purposes of
calculating federal income tax?

Thank you very much,
Elaine T Grey

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

Tags
divorce, monies, retirement
Similar Threads
Thread Forum Replies Last Post
Divorce who pays tax?
twc: Let's say $20,000 from a SEP IRA is withdrawn, and the IRA is in the name of the husband. In this case, that withdrawal becomes taxable as...
Taxes 8 08-10-2004 08:44 AM
Divorce and IRA / SEP-IRA ?
Bob: General questions on this subject. I'll be going through a divorce some time soon. My future ex and I both have SEP-IRAs and IRAs. My SEP is by...
Taxes 1 07-21-2004 05:20 AM
Divorce & Debts
John: Divorce decree states that my ex-wife was to pay $16K in unsecured debts. So she filed bankruptcy and the creditors came after me. I had them...
Taxes 7 03-06-2004 06:55 AM
DIVORCE DECREE
GenFinSvcs: This is a new one on me. I have a client with a divorce decree that specifically states that he is not to deduct his alimony payments and the wife...
Taxes 15 02-25-2004 02:26 PM
IRA Rollover after divorce...
Ed: I have a very interesting issue here. My ex-wife and I were divorced (final divorce decree) on January 3, 2004. I had an IRA in my name (but...
Taxes 6 01-14-2004 07:53 AM



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 02:58 PM.