For divorce or separation agreements entered into after December 31, 2018, which of the following statements is
Question:
For divorce or separation agreements entered into after December 31, 2018, which of the following statements is true about alimony and taxes?
Question 60
Select one:
a.If you receive alimony, you have to report it as income on your tax return but if you pay alimony, you cannot deduct it from your tax return as an adjustment to income
b.If you receive alimony, you no longer report it as income on your tax return and if you pay alimony, you cannot deduct it from your tax return as an adjustment to income
c.If you pay alimony, you can now deduct it from your tax return as an itemized expense
d.If you receive alimony you do not claim it as income however if you pay alimony, you can deduct it from your tax return as an adjustment to income
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker