AboutHelen P. O`Planick, EA Expertise I am a tax professional, with experience in individual taxation. I would prefer not to answer questions about non-resident aliens or corporate taxation. Please do not ask me state related questions, unless the state is Pennsylvania. There are 42 taxing states and 42 TOTALLY different sets of state tax law.
Experience I have been preparing tax returns almost all my life. I have been in professional practice for 25 years and I am enrolled to practice before the Internal Revenue Service.
Organizations National Association of Enrolled Agents
Publications I am a prior Money Magazine Tax Test taker and have been quoted extensively in all media including monthly periodicals and books by tax authorities.
Question As part of a divorce settlement, my husband has given me one of his reitrement accounts. The name on the account has been changed to mine but because our divorce isn't final, only he can request withdrawls. He says he will only withdraw money for me if we file taxes jointly this year so he will be able to collect the tax refund money for the unearned income. How much roughly would that be on $7500 in the state of MN. I think he is trying to screw me over by giving me some huge figure. Please help.
Answer I have no idea on your state tax, but federally, you will lose whatever your tax bracket is plus 10%, so you do stand to lose quite a bit. And if your divorce is final before 12/31, you cannot file as married anyway.
But why let him take this money it? Legally, if not on paper, it is yours and why do you want to let him take it?
I think he is most definitely trying to screw you out of some money, please do NOT make a decision without consulting your lawyer and your tax professional.
