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During the year, Sandra and David finalized their divorce. Under the terms of their written agreement, the couple settled on child support payments of $1,245
During the year, Sandra and David finalized their divorce. Under the terms of their written agreement, the couple settled on child support payments of $1,245 which David pays to Sandra each month. With regard to the $1,245 of monthly child support, which of following statements are correct? 1. The payment is taxable income for Sandra. 2. The payment is non-taxable to Sandra. 3. The payment is not tax deductible to David. 4. The payment is tax deductible to David. Question 7 options: 1 and 3 1 and 4 2 and 3 2 and 4
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