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Old 07-20-2013, 11:02 AM
5 posts, read 32,560 times
Reputation: 18


I'm in the middle of divorce. I'm taking a settlement for the house and amount my ex owes for marital debt (credit cards). When I receive the money for the credit card debt, do I have to pay tax on it? I know the money my ex pays me for my share of the property (house) isn't, but the money to cover the credit debt I'm unsure on.

I intend to ask my lawyer about it but he's in court case right now (someone else) and hasn't gotten back to me on this yet.

My googling has not brought me a clear answer. Thanks for any input.
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Old 07-20-2013, 04:53 PM
594 posts, read 859,847 times
Reputation: 612
Try asking your question on the turbotax community tax questions board. https://ttlc.intuit.com/questions/unanswered
My opinion is that it is not. Transfers between spouses are not taxable. Only periodic alimony payments after divorce are taxable.
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