Tweet
My ex-wife has recently become an ex-wife again. She informed us today that she received a lump sum of SS. Does this get included as income for her when determining s7 expenses?
-
-
I think it should.
Can't think of any reason it should not.
Should also be included as income for determining CS if you update yearly. -
It is customary for the recipient of lump sum SS to have to declare it as income. If the lump sum SS was directed through a maintenance enforcement agency then it would most definitely be recorded as income. Be sure to know if it was a lump sum SS or marital property settlement.
If it was for SS she will have to report it as income and it will show up on line 150.Comment
-
No, lump sum spousal is not taxable - only period payments.Originally posted by arabian View Post
It will not show up as income on the tax return.
Just because it is not on the tax return does not mean that it should not be considered for CS income though.
It is income for CS calculations and subsequently Section 7.Comment
-
All depends upon the order. In my case, because there was arrears right at the beginning, the lump sum amount I received had to be reported to maintenance enforcement who in turn recorded it as a payment towards arrears and it therefore became fully taxable.Comment
-
So you were getting paid a lump sum for periodic payments that were in arrears - I guess that makes sense that it was taxable.Originally posted by arabian View PostComment
-
Yes ex pd me some money from his percentage from the house for 9 months we were separated prior to divorce and arrears had accumulated. This pissed me off as at one time the house was in my name 100% (stupid me for putting it in his name a few years earlier). I end up paying taxes on money that was mine to begin with. Geesh.Comment
Comment