Do you pay tax for divorce ?

Question

me and my wife have some saving money if we get divorce do we have to pay tax on our money and what is the different between divorce lees than 5 years and over 5 years

Answer 1

Dividing up your marital assets, those owned by your wife and you do not constitute a taxable event. If a stock is sold at a profit and the proceeds divided, there would be a tax liability