That question is one of many that divorcing and separate couples tend to have around this time of year with April 15th approaching.
If we are not divorced yet, should we file jointly? How should we pay any taxes owed or split any refund received?
Who gets to claim the children? The person who has more physical custody or the person who pays child support?
Who gets to claim the interest deductions for the house? The person who lives in the house or the person who pays the mortgage?
Do I have to pay taxes on child support I receive?
Do I have to pay taxes on alimony I receive?
Do I have to pay taxes on money paid to me for property division?
Can I deduct any of my attorney fees.
These are important issues that can have a financial impact. They are questions that do not necessarily have one answer. Getting with an attorney and certified public accountant in advance of your tax filing deadlines can help you do good planning.