It is still a form of "income" for you, so it is taxable.
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Submitted 355 days ago...
Will I have to pay taxes on money paid to me after my divorce
I recently got divorced and part of the agreement was I was to recieve money for my 1/2 of equity in a home me and my now ex husband were buying.He kept hte home and I had ot relocate will I have to pay taxes on the money I recieved.I will also get 1/2 of his 401k as he will mine it is to be set up in another account then I am going to roll it over into my 401k account will I have to pay taxes on this as well even if I keep it in a 401k account.
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