Can my wife take my VA disability in a divorce?
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Can my wife take my VA disability in a divorce?
VA Disability Benefits Are NOT Considered an Asset in a Divorce. The Uniformed Services Former Spouses’ Protection Act exempts VA disability benefits from being divided during a divorce. In other words, VA disability compensation is not an asset that a judge can divide as marital or community property.
How does paying alimony affect my taxes?
The IRS considers alimony you received taxable income while you may be able to deduct alimony you paid to someone else. 2) States that the alimony or separate maintenance payments are not deductible by the payer spouse or includable in the income of the receiving spouse.
Is alimony taxable income in California?
Unlike federal income taxes, currently California tax code considers spousal support taxable, so the receiving party will have to report any spousal support payments as income.
Can you write off alimony in California?
Spousal support In California: If you receive alimony payments, you must report it as income on your California return. If you pay alimony to a former spouse/RDP, you’re allowed to deduct it from your income on your California return.
