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Tax Planning for Divorce (Part 5-Payments to Your Ex)

Guest Post by John Ellsworth, Esq.

If you’re paying alimony, you can take a tax deduction for the payments, even if you don’t itemize deductions.

Keep in mind, though, that the IRS won’t consider the payments to be true alimony unless they are spelled out in the divorce agreement. This is another rule for you to memorize: unless the divorce decree spells it out, it’s probably not going to be accepted by the IRS as alimony.

Your ex, meanwhile, must pay income tax on those amounts. Be sure you know your ex-spouse’s Social Security number. You have to report it on your tax return to claim the alimony deduction.

The opposite is true for child support: You don’t get a deduction for paying child support and the recipient doesn’t pay income tax.

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Related posts:

  1. Divorce and Tax Planning
  2. Tax Planning for Divorce (Part 8-Retirement Funds)
  3. Tax Planning for Divorce (Part 4-Child and Child Care Tax Credits)
  4. Tax Planning for Divorce (Part 1-Filing Status)
  5. Tax Planning for Divorce (Part 6-Asset Transfers)

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