The Best Books About Divorce and Money

Taxes & Divorce: Expenses of a Residence as Alimony: Generally, one cannot deduct one's of utilities and maintenance expenses for a residence that is jointly owned. The deductibility of the mortgage interest and real estate taxes depend upon both the terms of the separation agreement and the form of ownership under local law. "Table 2. Expenses for a Jointly-Owned Home" - (Publication 504, Divorced or Separated Individuals, 1998 returns) Use the table below to find how much of your payment is alimony and how much may qualify as an itemized deduction. If you must pay all of the... And your home is... Then you can deduct and your spouse (or former spouse) must include as alimony... And you can deduct as an itemized deduction... Mortgage Payments Jointly Owned One-half of the total payments One-half of the interest as interest expense (if the home is a qualified home)/1/ Real estate taxes and home insurance Held as tenants in common (undivided interest) (can designate to heir) (if divorced in Ohio, the joint and survivorship changes to tenants in common) ORC 5302.20(c)(5)/3/ One-half of the total payments One-half of the real estate taxes /2/ and none of the home insurance Held as tenants by the entirely (does not exist in Ohio) or in joint tenancy (undivided with right of survivorship to other tenants pro rata)(if not divorced)/3/ None of the payments All of the real and none of the home insurance /1/ Your spouse (or former spouse) can deduct the other one-half of the interest if the home is a qualified home. /2/ Your spouse (or former spouse) can deduct the other one-half of the real estate taxes. /3/ Information about Ohio property titles is not in the Table and has been added. Featured Download Manuals: The Download Center What Happens to the Marital Home Valuation of Businesses in Divorce Cases Identification and Division of Dissipated Marital Assets Identifying Unusual Types of Divisible Property Division of Intellectual Property Interest Upon Divorce Tracing Separate Property Through A Commingled Bank Account Domestic Violence & Distributing Property Upon Divorce Equitable Distribution of Stock Options Equitable Distribution of Lottery Winnings The Effect of Bankruptcy During Divorce Featured Books: The Divorce Bookstore The Property Division Handbook Asset Protection from Divorce Divorce & Money: Make the Best Financial Decisions Fairshare Divorce for Women Related Research Center Categories: Helpful Services: Accounts Antenuptial Agreements Appraisals Appreciation of Assets Attorney's Fees Bankruptcy Classification of Assets Closely Held Businesses Closely Held Corporations Corporations Creditor's Rights Debts Disabilty Benefits Dissipation of Assets Division of Property Double Dipping Employee Benefits Equal Division Factors in Award Financial Forfeiture of Assets Gifts Goodwill Income Inherited Property Interest on Assets Joint Titling Life Insurance Marital Home Military Benefits Pensions Premarital Property Prenuptial Agreements Prof. Licenses & Degrees Professional Practices Severance Pay Social_Security_Benefits Source of Funds Stock Options Tax Consequences Transmutation of Property Trusts Valuation of Assets Access to some research documents (those we license from independent legal research companies) are restricted to subscribers. In order to gain access to ALL of these documents, you must subscribe to establish an account. If you are already a subscriber, you may sign in before you begin your research. (Why Subscribe?)

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