The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: alimony/spousal support||Date: 11/10/1999 7:10 PM|
|Author: hghcpa||Number: 20876 of 122922|
Am going to receive spousal supprt and eventually alimony and need to know if this sum has to be added to my income? Since my "husband" has already paid taxes on this money do I have to repoty as income? Appreciate any help
Alimony is taxable to you and a tax deduction to your ex.
Child support is not taxable to you nor is it a tax deduction for your ex.
Your divorce decree should identify what exactly he is paying to you - alimony or CS.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|