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Started By
Message
Divorce and taxes
Posted on 8/6/15 at 10:56 am
Posted on 8/6/15 at 10:56 am
I will soon be liberated from my wife and I don't know what to expect regarding my taxes. I'm the sole earner--she's still a full-time student. We're young and have only been married for two years. I've agreed to pay alimony until May of next year so she can stay on her feet through the next school year.
My understanding is that alimony payments are tax deductible if I file single for 2015. She'll have to report alimony payments received as income and pay taxes on that. Is that the obvious path we should take? Are there any nuances I need to consider? I've always handled my own taxes because everything has been straightforward until now.
And what about temporary support that I pay her until the divorce is final? Does that get taxes withheld as usual, meaning she gets a little less than she will once the divorce is final? It's not considered alimony until we're actually divorced, meaning it's not deductible, right?
She's going to move out in the next three weeks. We plan on an uncontested divorce and have already agreed on how to separate our assets and what kind of support I will pay. It should only take 6-8 weeks.
We live in NYC if that matters.
edit: I should add that we are amicable and I don't think that will change. She's the one that fricked up and she's taking responsibility for it. We're on very good terms, all things considered. We've been trying to reconcile and we both agree, after careful consideration and therapy, that we need to dissolve the marriage.
Also, NY is a no-fault state and we don't have kids or enough assets to fight over. We want a clean break and we're both happy with the agreement we reached.
My understanding is that alimony payments are tax deductible if I file single for 2015. She'll have to report alimony payments received as income and pay taxes on that. Is that the obvious path we should take? Are there any nuances I need to consider? I've always handled my own taxes because everything has been straightforward until now.
And what about temporary support that I pay her until the divorce is final? Does that get taxes withheld as usual, meaning she gets a little less than she will once the divorce is final? It's not considered alimony until we're actually divorced, meaning it's not deductible, right?
She's going to move out in the next three weeks. We plan on an uncontested divorce and have already agreed on how to separate our assets and what kind of support I will pay. It should only take 6-8 weeks.
We live in NYC if that matters.
edit: I should add that we are amicable and I don't think that will change. She's the one that fricked up and she's taking responsibility for it. We're on very good terms, all things considered. We've been trying to reconcile and we both agree, after careful consideration and therapy, that we need to dissolve the marriage.
Also, NY is a no-fault state and we don't have kids or enough assets to fight over. We want a clean break and we're both happy with the agreement we reached.
This post was edited on 8/6/15 at 11:03 am
5
Posted on 8/6/15 at 11:06 am to Hog on the Hill
Correct - for Federal purposes, because the divorce will be final in 2015, you will file as single and will be able to deduct alimony payments made during 2015.
The "temporary support" will not have a bearing on your income tax return.
The "temporary support" will not have a bearing on your income tax return.
Posted on 8/6/15 at 11:06 am to Hog on the Hill
quote:
She's the one that fricked up and she's taking responsibility for it
Damn, cheated within two years? It's like she's a dog in heat.
Posted on 8/6/15 at 11:21 am to Teddy Ruxpin
quote:Spectacular, isn't it? We were together for four years before getting married, but yeah, it's still pretty bad. We both know she needs to be in therapy. I knew she had severe emotional problems (anxiety, depression, lots of baggage) from the start and was naive about that. Lesson learned. I'm in therapy now and I feel optimistic about my future. I have a great job, great salary, I'm young, and I'm in shape. I'll do fine.
Damn, cheated within two years? It's like she's a dog in heat.
This post was edited on 8/6/15 at 11:24 am
Posted on 8/6/15 at 11:22 am to Hog on the Hill
I'm guessing by your sig pic that she wanted a real man.
Just fricking with you. I have no idea about your question.
Just fricking with you. I have no idea about your question.
Posted on 8/6/15 at 11:25 am to AnonymousTiger
quote:Haha, that's meant to frick with the heads of homophobes on the PT board.
I'm guessing by your sig pic that she wanted a real man.
Just fricking with you. I have no idea about your question.
edit: for some reason I don't see my own sig pic anymore and I don't have them turned off in settings
edit2: oh, fricking websense. Our IT department started filtering half of the internet, which apparently includes imgur.
This post was edited on 8/6/15 at 11:28 am
Posted on 8/6/15 at 11:37 am to krehn11
quote:Thanks, I just read some more about my situation and it confirmed what you just told me.
Correct - for Federal purposes, because the divorce will be final in 2015, you will file as single and will be able to deduct alimony payments made during 2015.
The "temporary support" will not have a bearing on your income tax return.
So the temporary support I pay to my wife will come from my net, post-tax income. I assume that whether I scale that support with my regular tax withholding is up to us, since we're doing an uncontested divorce. I think that would be fair, and it would provide incentive for my wife to sign and return the divorce papers as fast as she can.
This post was edited on 8/6/15 at 11:50 am
Posted on 8/6/15 at 12:26 pm to Hog on the Hill
quote:
Hog on the Hill
Sorry man. Hate that it didn't work out for you guys.
Good luck with the field though
Posted on 8/6/15 at 2:35 pm to lynxcat
I thought of you were married any in 2015 you could file married but separate and then claim head of household for better tax breaks.
At least that's what I did last year
At least that's what I did last year
Posted on 8/6/15 at 2:46 pm to bulldog95
quote:
I thought of you were married any in 2015 you could file married but separate and then claim head of household for better tax breaks.
It's whatever your status is on December 31 (or the last day of your tax year if you don't use the calendar year).
Posted on 8/6/15 at 2:58 pm to Hog on the Hill
quote:
I knew she had severe emotional problems (anxiety, depression, lots of baggage) from the start and was naive about that.
Sounds like a bipolar manic depressive whose manic episodes manifest in hyper-sexuality. It's actually not all that uncommon. I don't have anything useful to say, so good luck, mate
Posted on 8/6/15 at 4:22 pm to bulldog95
quote:
I thought of you were married any in 2015 you could file married but separate and then claim head of household for better tax breaks.
Have to be married on last day of tax year to claim MFJ or MFS.
Have to have dependent(s) to claim HOH.
Posted on 8/6/15 at 4:30 pm to bulldog95
quote:
I thought of you were married any in 2015 you could file married but separate and then claim head of household for better tax breaks.
Ruh roh.
Posted on 8/6/15 at 4:47 pm to Hog on the Hill
quote:First off...congrats. I'm going thru one myself and while mine is stickier (more assets to split) it is still a very liberating feeling. Especially when you are liberated to put freely frick what you weren't supposed to before.
I will soon be liberated from my wife
Is your temporary support going to be withheld from your paychecks? If so, then all the tax stuff will work out easy. If you are cutting her a check every month...document it.
Posted on 8/6/15 at 7:55 pm to Hog on the Hill
Nothing to add, just a comment to say that it seems odd to me (a confirmed bachelor with a lifelong string of failed relationships) that *she* screwed around and yet you're paying alimony to her.
I hope things work out for you though.
I hope things work out for you though.
Posted on 8/7/15 at 9:29 pm to Jcorye1
I'm still legally married and we split defendants so no ruh roh
Posted on 8/7/15 at 10:45 pm to Jag_Warrior
I think he is only paying alimony until she gets out of school and can support herself. Sounds like he didn't want to leave her completely high and dry which is a nice gesture on his part.
Posted on 8/8/15 at 12:23 pm to bulldog95
quote:
by bulldog95
I'm still legally married and we split defendants so no ruh roh
Damn, tell us you really feel about your kids
This post was edited on 8/8/15 at 12:24 pm
Posted on 8/10/15 at 9:27 am to Jag_Warrior
quote:NY is a no-fault divorce state so adultery makes no difference when it comes to support owed. We could have retained lawyers and fought over it, but that would have left us with nothing. Better to reach a reasonable agreement and get her the frick out of my life ASAP, in my opinion.
Nothing to add, just a comment to say that it seems odd to me (a confirmed bachelor with a lifelong string of failed relationships) that *she* screwed around and yet you're paying alimony to her.
I hope things work out for you though.
edit: I agree that it's really fricked up from an objective, non-legal standpoint. It is. It sucks being in the position of paying for her shite after I've been supporting her 100% for the last three years. At least it's only until next May. She's moving back home so I'm going to pay her substantially less than if she'd stayed here, thank goodness.
This post was edited on 8/10/15 at 9:40 am
Posted on 8/10/15 at 9:35 am to Joshjrn
quote:It wasn't a sexual thing, it was an emotional thing. It's a long story, but my wife has serious emotional problems and I've tried the entire time we've been together to get her into therapy. She always had an excuse and I ended up avoiding conflicts and talking about relationship problems because she would get so emotional and defensive that it would make it impossible to fix anything. I finally got her in therapy after I found out about the affair and gave her an ultimatum, and I tried to reconcile with her, thinking that therapy would get her out of her emotional fog and help her think rationally. No such luck.
Sounds like a bipolar manic depressive whose manic episodes manifest in hyper-sexuality. It's actually not all that uncommon. I don't have anything useful to say, so good luck, mate
She has been talking to her affair partner (a former boyfriend) since at least last October. They got a long distance thing going and she has seen him in person a couple times in the last several months. By the time I found out, she had already fallen in love, so it's way more than a sexual problem. It's been nearly a year now that she's been comparing me to him without me knowing, and I've been the one having to live with her every day. Of course she sees tons of things "wrong" with me, but nothing wrong with him.
I can divorce her knowing that I did everything I could to try to make it work in the end. I'm not saying I had no part in our problems--I definitely withdrew from her emotionally at some point. I just didn't know how to deal with her issues if she wouldn't get into therapy. I probably should have tried harder, but I got a negative reaction from her every time. Ultimately, it's not my responsibility to fix her emotional issues, it's hers. I did everything I thought I could do.
The moral of this story is to find someone who is emotionally stable, financially self-sufficient, and already educated. My wife was needy and totally dependent on me, and I don't think I could have ever met her unreasonable needs unless she'd gotten into therapy way sooner.
The other moral of the story is that I'll be way better off without her. I just turned 30, I make very good money, have a great job, I'm in shape, and I live in a great city full of incredible women. It'll take time, but I'll come out ahead.
This post was edited on 8/10/15 at 9:47 am
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