How do you handle contribution carryforward for a divorced couple? While filing joint returns in the past, the couple had contribution caarryfoward from previous years. They divorced in 2009. The contributions in the past can be separated between each of them, if needed.
Split them whichever way the couple decides.
Agreed --------- with the hope than they can mutually agree on the decision.
I have a special dictionary that I use when speaking with divorced or divorcing clients, and I cannot find that word you said. Agree? What does that mean?
And that other word, mu-tual-ly. I cannot find it either.
Perhaps I need a different dictionary.
I was kind of going for the approach that they each take a portion as opposed to them each deciding to take the full amount.
If you are in a community property state, tell them it has to be split 50/50. If you are not in a community property state, tell them it has to be split according to how much each one actually donated, then go get a cup of coffee or whatever else you like to drink while they make a decision about splitting it, or simply walk out.
