Tax Consequences of Divorce
We get a lot of questions about the implications of divorce on taxes, and Billie Tarascio walks you through the tax consequences you might face as a result of divorce. Divorce is not considered a taxable event, but there are some areas to be mindful of.
We look at:
- How can you value your assets when taking into account the tax associated with them
- Will getting divorced and dividing retirement trigger penalties or taxes? (The quick answer is no.)
This video explains how taxable basis follows items divided during divorce.