jamessite
Level 3
01-23-2025
10:31 AM
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I know the receipt of $150000 of alimony is taxable in NY State, but not to the IRS.
If there is a separate $10000000 settlement, apart from the alimony, is that settlement also taxable in NY State?
Does it make a difference if it is marital assets OR if it is cash?
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abctax55
Level 15
01-23-2025
10:38 AM
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Cash *is* a marital asset, just like the house, the cars, the artwork, the brokerage accounts, the jewelry, the pets....
Splitting the marital assets isn't a taxable event.
Well, with the exception of retirement plans IF they are aren't handled correctly (think QDRO).
HumanKind... Be Both
