Question
Explain the importance of the distinction between alimony and a property settlement. A. Alimony is considered to be taxable income to the recipient and a
Explain the importance of the distinction between alimony and a property settlement.
A. Alimony is considered to be taxable income to the recipient and a deductible expense for the payor. A property settlement is neither taxable income nor a deductible expense.
B. Alimony is considered to be taxable income to the recipient but not a deductible expense for the payor. A property settlement is considered to be nontaxable income to the recipient and a deductible expense for the payor.
C.Alimony is considered to be nontaxable income to the recipient but a deductible expense for the payor. A property settlement is considered to be taxable income to the recipient but not a deductible expense for the payor.
D.Alimony is neither taxable income nor a deductible expense. A property settlement is considered to be taxable income to the recipient and a deductible expense for the payor.
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Aat Management Accounting Budgeting
Authors: BPP Learning Media
1st Edition
1509718400, 978-1509718405
