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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 ...
https://www.freep.com/story/money/personal-finance/susan-tompor/2018/12/19/divorce-alimony-income-tax-deduction/2310068002/
Dec 19, 2018 · It's a big deal if you're paying $30,000 a year or far more in spousal support and you're in a higher tax bracket. Alimony was treated as a highly favorable, above-the-line tax deduction that ...
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. To qualify for the alimony ...
https://www.marketwatch.com/story/new-tax-law-eliminates-alimony-deductions-but-not-for-everybody-2018-01-23
Jan 29, 2019 · Cannot be child support . To be deductible alimony, a payment cannot be classified as fixed or deemed child support under the alimony tax rules. ... For the payer to claim an alimony deduction …
https://www.irs.gov/faqs/interest-dividends-other-types-of-income/alimony-child-support-court-awards-damages/alimony-child-support-court-awards-damages-1
When you calculate your gross income to see if you're required to file a tax return, don't include child support payments received. Under divorce or separation instruments executed on or before December 31, 2018, alimony payments are deductible by the payer and taxable to the recipient. When you calculate your gross income to see if you’re ...
https://www.divorcenet.com/resources/divorce/divorce-taxation/child-support-alimony.htm
In other words, you can’t take a tax deduction on the same money more than once. Child Support Tax Rules. Different from alimony, child support payments are not deductible by the parent who makes the payments. Likewise, child support does not count toward the receiving parent’s taxable gross income.Author: Teresa Wall-Cyb
https://nypost.com/2017/12/22/heres-how-the-tax-plan-could-change-divorce-in-a-big-way/
Dec 22, 2017 · Some prenuptial agreements have alimony provisions that assume the tax deduction, said Scott Swier, a South Dakota attorney. Some states might need to change alimony guidelines embedded in their laws.
https://www.hrblock.com/tax-center/filing/adjustments-and-deductions/child-support-and-dependents/
There is not a child support tax deduction available. Instead, the amount of child support you provide usually doesn’t matter. To qualify as a dependent, the child must not provide more than half of his or her own support for the year. The child must live with you more than half of the year.
https://www.poynerspruill.com/thought-leadership/how-the-new-tax-law-changes-alimony-and-child-support/
Mar 22, 2018 · Under current law, the spouse paying alimony is entitled to an above-the-line tax deduction for all such payments. The party receiving alimony is required to report all such payments as taxable income, no different from income earned from a job. Child support, in contrast, is not currently considered taxable income to the party receiving it and ...
https://www.marketwatch.com/story/how-to-make-your-alimony-payments-tax-deductible-2017-08-15
Aug 15, 2017 · If your marriage disintegrates and you’re required to make payments to your ex, it’s a big help if you can treat some or all of the payments as tax-deductible alimony.
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