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Understanding the Tax Issues of Divorce Webinar

Summary

Divorce can be a trying time for both parties, and taxes are generally the last thing on their minds. As tax preparers, we are often called upon to explain the tax implications of divorce to our clients. In this webinar, we’ll discuss how to treat payments received such as alimony, child support, transfers of property (including the marital home) and dividing retirement accounts. In addition, we’ll review the divorcing spouse’s filing options before and after the divorce, and how a qualified domestic relations order (QDRO) impacts various aspects of a divorce. Lastly, we’ll discuss the division of tax benefits between the custodial parent and the noncustodial parent when children are involved, and when Form 8332, Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent, is required.

Objectives

Upon completion of this course, you will be able to:

  • Identify the appropriate filing status for divorced or separated taxpayers
  • Determine which parent is eligible to treat their child as a dependent
  • Identify who is the custodial and noncustodial parent
  • Summarize tax benefits the custodial and noncustodial parent receives
  • Define the difference between alimony, child support and property settlements
  • Prepare Form 8332

Course Details

Subject matter experts will answer your questions during the presentation. We make every effort to answer as many questions as possible during the webinar but we may not be able to directly address every question.

This webinar includes the presentation slides, attendee top questions and access to the webinar recording.






   

Presented by: Genaro Cardaropoli, CPA

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