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Taxation & Estate Planning

: California Tax Attorney Blog

Tax Deduction For Alimony Payments

By californiataxattorneyblog-1

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Alimony payments may be included in gross income to the payee spouse and tax deductible by the payor spouse. Recharacterizing alimony payments is very common for the IRS on audit. Separating and divorcing spouses can recognize significant federal income tax savings when aware of what payments do not qualify as alimony.

Full post as published by California Tax Attorney Blog on June 03, 2010 (boomark / email).

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