Divorce Tax Filing Guidance

Summary

During a divorce in Pennsylvania, you can file taxes as Married Filing Jointly or Married Filing Separately while still married. After divorce, file as Single or Head of Household. Retirement payments received as part of a divorce settlement may be taxable. If legally separated, similar tax rules apply. Keep clear records of joint account transactions. Consulting a tax professional is advisable for personalized guidance.

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Getting divorced from my 71 year old husband of 48 years. Retirement payments go into a joint account. I will be taking out half payments monthly. How do we fill taxes?
Hi ****! For your situation, here are a few general points about handling taxes during a divorce in Pennsylvania:
- Filing Status: You can file as "Married Filing Jointly" or "Married Filing Separately" for the year you are still married. After the divorce, you'll file as "Single" or "Head of Household."
- Retirement Payments: If you receive retirement payments as part of a divorce settlement, they might be taxable.
- Joint Account: Since the payments are going into a joint account, ensure you keep clear records of the amounts each of you withdraws.
It might be best to consult a tax professional for personalized advice. Do you need help connecting with a local lawyer or tax advisor?
What if we are legally separated instead of divorced?
If you are legally separated instead of divorced in Pennsylvania:
- Filing Status: You may still file as "Married Filing Separately" or "Married Filing Jointly" until the divorce is finalized.
- Retirement Payments: These might still be considered marital property and could be taxable.
- Tax Implications: The same rules for joint accounts and clear record-keeping apply.
Would you like to connect with a local lawyer for more detailed assistance?
No thanks.
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Hi ****! It seems like you're handling a complex issue with your divorce and tax filings. While I can provide general information, for detailed and personalized advice, consulting with a tax professional or lawyer might be best. If you change your mind about connecting with a local lawyer or need further assistance, feel free to reach out!
Thanks
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