How much money will be taxable from a divorce settlement?

Last year, my ex-wife and I agreed on the settlement of our house after our divorce, which is 50/50. She and I agreed not to sell the house (unless she buys me out right before then) until my last child turns eighteen, which will be in 11 years. I was given ,000 last year upfront from my ex-wife as part of the settlement agreement from the house. I am currently on SSDI too. Don’t know if that will be affected too.

What I am really trying to say is how much (approximately) do I have to pay in taxes for the ,000 I received from my ex? Being on disablility, how will that affect me too.

Related Blogs

    Tags: , , , , ,

    One Response to “How much money will be taxable from a divorce settlement?”

    1. Judy Says:

      You shouldn’t have to pay income taxes on the $25,000. I’m not sure though if it will affect your SSDI.