Alimony

Alimony

About Alimony:

Alimony is a qualifying payment to or for the support of one's former or estranged spouse (ex-spouse) in the course of divorce or separation (agreement) when it is tax deducted. Alimony and separate maintenance payments can be deducted as adjustments to income regardless of whether the payor itemize. They are taxable (included in gross income by the collecting ex-spouse) to the receiver and deductible by the payor (in this late case, the recipient must include the payments in his or her taxable income). Child support and other voluntary payments are not considered alimony for tax purposes. Alimony is deductible for Adjusted Gross Income; child support is not. Former IRC (check if this IRC provision is current here) §§62(10). Main Contributor: Mark Harries.

Description and Definition of Alimony

Payments made to a separated or divorced spouse as required by a divorce decree or agreement. Qualifying payments to an ex-spouse can be deducted as adjustments to income regardless of whether you itemize. They are taxable to the recipient.

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