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Chris has gotten divorced in 2020. He pays a lump sum payment of $100,000 for spousal support, and then doesn't have to pay any
Chris has gotten divorced in 2020. He pays a lump sum payment of $100,000 for spousal support, and then doesn't have to pay any in the future. He must pay $1,000 per month in child support starting in January 2020 ($12,000 total for the year). What is the impact on Chris' income in 2020? $12,000 deduction $100,000 deduction $112,000 deduction $0 no impact
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Fundamental Accounting Principles
Authors: John Wild, Ken Shaw, Barbara Chiappetta
22nd edition
9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275
