About Equality in Marriage Institute Expertise As a non profit organization commited to assisting and supporting men and women through their divorce transition, we will answer any questions -from how to get yourself on your feet after being served with divorce papers, questions to ask your lawyer, how to appeal or modify your judgement and the different ways to end your marriage to how to empower and care for yourself, the benefits of joining a support group and how to manage your divorce process. Please note that we are not lawyers, financial advisors or therapists. The information given is intended to provide you with direction towards resources, websites, and answers that can help you through your transition.
Experience We have experience answering hundreds of questions from both men and women who are going through the divorce process.
Expert: Equality in Marriage Institute - 6/29/2005
Question We recently sold our house, we have not received final divorce decree. There was $27k left over, minus $1500 in closing cost. I understand the proceed will be split accoring to decree. Will we have to pay taxes on the proceeds? Wife ran a small business from house, I don't know if she claimed house for expenses.
Answer Dear David,
The best professional to ask would be a tax consultant/ accountant. You may also get your answer for free from the IRS themselves. They have a publication on Divorce and Taxes that you can download form their site. I bet they have the answer there.
I hope this helps.
