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    rx81tm's Avatar
    rx81tm Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 30, 2008, 07:39 AM
    1/2 of excess contribution check
    OK
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Jan 30, 2008, 07:41 AM
    I would treat it as a gift since you got no 1099.
    toyota1068's Avatar
    toyota1068 Posts: 16, Reputation: 3
    New Member
     
    #3

    Jan 30, 2008, 07:45 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.
    cdad's Avatar
    cdad Posts: 12,701, Reputation: 1438
    Internet Research Expert
     
    #4

    Jan 30, 2008, 02:49 PM
    Its really going to depend on some wording and if it's 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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