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    BadLuckisMyLuck's Avatar
    BadLuckisMyLuck Posts: 1, Reputation: 1
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    #1

    Sep 9, 2010, 05:57 PM
    Where on divorce form do you include 401 amount settled on
    I will be receiving $45000. From my ex's 401 once the divorce is settled. I receive soc sec disability and can not afford 20 percent taxes on $45000. Can he be required to pay the 20 percent
    cdad's Avatar
    cdad Posts: 12,700, Reputation: 1438
    Internet Research Expert
    		  
    #2

    Sep 9, 2010, 06:09 PM

    No. He can't be requird to pay it. And you may be able to roll it over to a qualifying account and not pay the taxes until its withdrawn. If your cashing it in as a windfall then you just get 20% less and pay the IRS.
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