One of my co-workers is going through a divorce. She has recently received the Marital Settlement Agreement, and while she’s pretty sure all of it is on the up-and-up, there’s one section in the part governing payment of taxes that has her scratching her head, and me along with her. To wit:
Unless otherwise specified in this Agreement, and in addition to income attributable to each party’s respective nonmarital property, each party’s seperate return must report as the party’s income one-half of all income attributable to marital property, including earnings from personal services.
What in Sam Hill does that mean? I’ve just typed it out, and I still can’t make head nor tail of it. My friend called her lawyer’s paralegal who couldn’t explain it, and advised her to consult a tax professional.
She’s sure the lawyer is on her side, but wants to make sure. She knows I’m posting this information here, and would welcome anyone’s attempts to translate this into layman’s terms.
