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Does my income from a divorce retirement disbursement add to my income total for the year?

Spokane, WA |

I received 95K from a 401k that my ex-wife had. I agreed to keep the house which was underwater and use this money to refinance it. If it were not for the house I would of rolled it over into an IRA. After the 20 percent tax I received 75k. Will this be added to my income for next years taxes? And will I be in that tax bracket? Which could in turn increase my tax liability alot more than I can afford on my income of 45k per year.

Attorney Answers 1


You need to consult a CPA on this tax issue.

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