Tax and Alimony

[bigloser]

Simple question...is alimony considered taxable income?

 

[I AM ALWAYS LIABLE]

Simple question...is alimony considered taxable income?

My response:

Insofar as Federal tax is concerned, the recipient's receipt of alimony is part of Gross income, and Gross income generally means all income from all sources [26 USC §61], including, but not limited to, among other things, alimony and separate maintenance payments. [26 USC §61(a)(8).

However, because you didn't follow the instructions in the BIG, GIANT, RED WORDS above, I can't tell you if it's taxable also in your State.

See a tax counselor for further particulars.

IAAL

 

[sofla]

Alimony is Taxable Income

For those wondering is alimony taxable, you bet it is. I'm paying my s2bx (aka: adulteress tramp) $750 mo, but, with taxes, it's only about $530 or $540 a month. So, I can live with it. I make in the 60's and she only makes about 20K, 15 yr marriage and she is over 50 - so, no way was I not going to be stuck with alimony but I was no way going to be paying her in pertpetuity- so, I settled for a now less than 5 yr unmodifiable agreement. But, I am still angry, not at the money, but at her behavior.