IRC section 215(a) says an individual who makes alimony payments may deduct them and the recipient must include them in his or her gross income. Under IRC section 71(b)(1), payments must meet four ...
Generally, whether a payment is alimony depends on IRC section 71(b). Alimony and separate maintenance payments (collectively referred to as alimony) are taxable to the recipient and deductible by the ...
Q Can you deduct alimony payments? A Alimony is an amount paid to a spouse or former spouse under a divorce or separation agreement, and does not include child support payments or property settlement ...
Editor’s Note: The tax treatment of alimony was fundamentally altered by the 2017 tax reform legislation. For tax years beginning after 2018, alimony payments are not deductible by the payor spouse ...
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Alimony is taxable if your divorce was finalized before 2019. If your divorce was finalized in 2019 or later, alimony is not taxable income for the recipient, and the payer can’t deduct alimony from ...
Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial and ...