Discussion:Divorce Research
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Discussion Forum Index --> Basic Tax Questions --> Divorce Research
Discussion Forum Index --> Tax Questions --> Divorce Research
| 6 October 2009 | |
| I have searched TA to try and find a discussion thread on handling the taxes for someone who is recently divorced. It seems like most of the threads out there are specific issues. What I want to know is if anyone has any good suggestions on where to find some general information on tax issues for the newly divorced? I have read publications 503 and 504 and checked out a website called divorce360. Any suggestions on where I can go for some more research?
Thanks, Chris | |
| 6 October 2009 | |
| the only unique issues for divorced taxpayers are:
potential conflicts of interest (both want to claim same child or claim all of the mortgage interest) alimony child support dependency exemptions, child tax credit, head of household, dependent care credit, tuition & fees, etc questions regarding the children - (this is the hottest contested area) principal and 2nd residence issues transfers incedent to a divorce & gift basis | |
| 6 October 2009 | |
| Don't forget the QDRO's! http://www.dol.gov/ebsa/faqs/faq_qdro.html | |
Death&Taxes (talk|edits) said: | 6 October 2009 |
| Most important thing they can do???? Check their filing status on the W-4! | |
| 6 October 2009 | |
| I recently did the NATP self-study course, "Tax Issues of Divorce":
http://www.natptax.com/self-study_tax_issues_of_divor.html It's a good overview. | |
| 6 October 2009 | |
| Husband(H) living in WA State moves out 3/15/09, No Dependents, Divorce final 9/30/09.
1. H and S File as Single for 2009 2. H reports his own Sch C Income/Expense since not operated or shared with Wife (S) Busn is Sole Proprietorship. 3. S reports her own Income (W-2, Int, Div.) and Fed W/H 4. Any Mtg Int or R/R Taxes to be reported by respective party who paid items. I have been told by other accountants, since H was out of home more than 6 mos. just file Single, report your own respective income and just include #4 items specifically paid by either H or S. While other accountants require Income/Expenses up to separation date 3/14/09 should be allocated 50/50 to H & S and subsequent activity treated separately by respective parties. It is my understanding, if H is not living in personal residence for entire year then and only then can you report all Income/Expenses separately otherwise needs to be allocated 50/50 to 9/28/09 in this Example.
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| 6 October 2009 | |
| Thanks for the responses. I think I will take a self study course. | |
| 7 October 2009 | |
| You might also want to check with the reference librarian at the main library of your county. In my county, the main library has a very good tax collection, of professional calibre. And I'm not just talking statutes and cases. I'm talking sophisticated practice guides. However, like everything else, over the past two years, they seem to be cutting back on continuing to update with yearly supplements.
P.S. Always look over the shelves in reference in addition to talking to the librarian. Sometimes, they don't even know what they have. I tell people all the time, it's surprising what you can find in a library, might as well use it, since you're paying for it. County law libaries (at the courthouse usually) are also open to the public. The tax section can vary depending on the size of the jurisdiction. | |
