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Did quarantining hasten the end of your marriage? If so, avoid these tax pitfalls

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Good grief. As if the COVID-19 crisis has not already done enough damage, all the extra stress and forced togetherness may be causing some married couples to call it quits. If you’re going down that road, anecdotal evidence suggests you’ll have plenty of company. Sad, but apparently true.

On top of all the other stuff, getting divorced can be a major financial transaction. As such, it can have major tax consequences. And there are tax pitfalls to avoid — if you know about them. Don’t expect your lawyer to understand all the tax implications of your impending marital split. Some otherwise-competent divorce attorneys are not fully up to speed on divorce-related…



Source marketwatch.com

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