Divorce settlements and tax consequences: alimony vs. property settlement

If it is alimony it is taxable to the recipient and tax deductible by the payor. If it is a property settlement it is not taxable or deductible. How can you know if you have alimony which is taxable vs. property settlement which is not?

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If it is alimony it is taxable to the recipient and tax deductible by the payor. If it is a property settlement it is not taxable or deductible. How can you know if you have alimony which is taxable vs. property settlement which is not?

It's only fair to share...Digg thisShare on FacebookShare on Google+Print this pageTweet about this on TwitterShare on LinkedIn