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I am in Texas.
Not unless it’s something like you get half a 401k and then you withdraw the money. A divorce settlement itself isn’t taxable.
In Texas, shouldn’t it be community property that you’re legally entitled to? So not income because it was already “yours”?
If it’s an alimony settlement you do. If it’s marital asset or child support you don’t.
Everybody going through a divorce needs a financial professional (ideally who specializes in divorce) a lawyer, and a therapist. They each support in different ways. Second Saturday Divorce Workshops can be great resources in your local community.
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