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A taxpayer with a divorce decree finalized in mid TY2018 who receives $25,000 a year in spousal support will pay taxes on this income. True,
A taxpayer with a divorce decree finalized in mid TY2018 who receives $25,000 a year in spousal support will pay taxes on this income. True, or? Select one: a. Partially True: The income is normally taxable from TY2018 and earlier divorce or separation instruments. This can change if the agreement is modified on or after January 1st, 2019 and explicitly states that the changes in the TCJA apply to the new instrument. b. Partially True: The portion of the support considered alimony is taxable to the recipient, but not any portion considered child support or property payments. c. False: Alimony is never taxable since TY2019 onwards regardless of the date of the original separation. d. True: Alimony is considered income to the recipient
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