Payments incident to divorce: Alimony (maintenance) payments are deductible by the payer & reportable as income by the recipient. Child support payments are not deductible nor taxable. To be treated as alimony, the divorce decree must state payments are to be considered alimony. Alimony deductions may be recaptured as ...income (by payer) if payments decline in years 2 & 3.
/posted by Billy Upchurch, CPA/ABV/CFF,CFE,CVA
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