1/2 of excess contribution check

toyota1068 · Jan 30, 2008, 05:45 AM

I would think you need some kind of Tax form for filing this, but if you don't want to get a letter from IRS I would suggest checking on line at IRS.gov or call a Tax expert. Just to be sure, if it's done wrong IRS will notify you 2 or 3 yrs later and you might have to owe them something. So it wouldn't hurt to find out and do it right the first time.

califdadof3 · Jan 30, 2008, 12:49 PM

Its really going to depend on some wording and if its a settlement or a suport check. If its spous support its taxable for sure and he gets to write it off ( federal taxes ) but if its simply a dispersment of funds generated while you 2 were married then you need to look at the tax filing for the year it may / maynot have been deducted.



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