Divorce Raises Questions About Your Tax Return

If you are in the midst of a divorce, or if your divorce was finalized in 2015, your tax return will require extra attention this year. It’s important to consult with a qualified tax professional to ensure that your return is completed properly and accurately and that you claim all of the tax benefits to which you are entitled.

Below are just a few of the questions that your recent or pending divorce may raise about your return.

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When Do You Need to File Form 1099-MISC?

If you pay someone who is not your employee in connection with your trade our business, you may be required to file Form 1099-MISC to report these payments. If you’re unsure whether you need to submit a 1099-MISC for expenses you’ve paid, these guidelines will help you decide.

Generally speaking, you must file a 1099-MISC and provide a copy to the recipient of payments

  • To someone who is not your employee
  • Who is an individual, partnership, or estate (or in limited circumstances, to a corporation)
  • In an amount of at least $600
  • For services in the course of your trade or

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