Based on a divorce agreement (which was signed and in effect on 11/19/2015), Tim is to pay his former wife Amy $10,000 per month. These payments will be reduced to $6,000 per month when their 8 year-old daughter reaches age 18. During the current year (2020), Tim paid $120,000 under the agreement. Assume that no other relevant tax issues effect this agreement. How much can Tim deduct from gross income and how much does Amy include in gross income? Be as brief as possible in providing your answer.