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https://www.thebalance.com/differences-between-alimony-and-child-support-4687156
Oct 17, 2019 · The key difference between alimony vs. child support is what each one is intended to be used for. Alimony is paid for the benefit of a spouse; child support is paid for the benefit of any children resulting from the marriage. Child support is designed to be used to meet the basics needs of the child.
https://www.irs.gov/taxtopics/tc452
Jan 03, 2020 · Child support is never deductible and isn't considered income. Additionally, if a divorce or separation instrument provides for alimony and child support, and the payer spouse pays less than the total required, the payments apply to child support first. Only the remaining amount is considered alimony. Reporting Taxable Alimony or Separate Maintenance
https://www.divorcesource.com/ds/taxes/alimony-vs-child-support-on-your-taxes-4787.shtml
Alimony is tax deductible to the payor and taxable to the recipient, and child support is taxable to neither the payor nor the recipient. For this reason, alimony payors sometimes want as much support as possible to be in the form of alimony, and recipients want as much as possible to be in the form of child support.
https://www.huskerlaw.com/blog/2019/01/is-alimony-taxable-income/
Jan 30, 2019 · Child support is different. It isn’t considered taxable income. If it’s not reported on your tax return, then the party paying it can’t claim it as a deduction. If your ex-spouse doesn’t claim a deduction on the alimony you were paid in 2018, there’s no need for you to report it as income.
https://www.hrblock.com/tax-center/income/other-income/alimony-and-child-support/
There’s a tax difference between alimony and child support payments. A person making qualified alimony payments can deduct them. Alimony payments received by the former spouse are taxable and you must include them in your income. The payor can’t deduct child support, and payments are tax-free to the recipient.
https://www.divorcenet.com/resources/divorce/divorce-taxation/child-support-alimony.htm
The IRS governs what can be taxed and the general rule is: alimony is deductible while child support is not. Although tax laws can be complex and for that reason, seem intimidating, knowing some of the rules can give you a leg-up during settlement negotiations or at least a heads-up to how your federal tax responsibilities will change upon divorce.Author: Teresa Wall-Cyb
https://www.1040.com/tax-guide/taxes-for-families/alimony-and-child-support/
Tax Law Update: The Tax Cuts and Jobs Act of 2017 changed the way alimony is treated on tax returns. Key here is the date the divorce was finalized: Key here is the date the divorce was finalized: For divorces finalized in 2018 or prior years, alimony you pay is deducted from your taxable income.
https://www.marketwatch.com/story/new-tax-law-eliminates-alimony-deductions-but-not-for-everybody-2018-01-23
Jan 29, 2019 · Contact a tax professional if your proposed divorce agreement includes payments that you intend to be alimony as well as payments that you intend to be child support. 7. …
https://www.thebalance.com/alimony-and-taxes-3193082
May 16, 2019 · Updated May 16, 2019. Starting in the 2019 tax year, alimony payments are no longer deductible—nor does the recipient have to report them as income. That's because the Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, eliminated the alimony deduction from the tax code from 2019 through 2025.
https://www.investopedia.com/articles/tax/10/spousal-support-taxation.asp
Alimony Is Included in Tax Calculations. This type of spousal support is often awarded in divorces where children are not involved. In most cases, alimony payments are tax deductible by the payor and reportable as taxable income by the recipient.
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