You may be wondering if any tax breaks are available to ease your financial burdens. In general, there aren't any specific tax breaks that can be claimed after a divorce is finalized. However, there are a couple of filing options that may help you save some money on your annual tax return.
As mentioned previously, filing as head of household can reduce the amount you owe for the given year. It's also possible that you will benefit from selling your home as part of the divorce. If neither you nor your ex-spouse wants to continue living in the home, you can avoid being taxed on the initial $250,000 you obtain from the sale as long as the home was owned by you for at least two out of the previous five years.