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Jerry and Sally were divorced under an agreement executed July 1, 2010. The terms of the agreement provide that Jerry pay Sally $1200 a month
Jerry and Sally were divorced under an agreement executed July 1, 2010. The terms of the agreement provide that Jerry pay Sally $1200 a month until their youngest child reaches age 18. Then Jerry will pay Sally $500 a month. How much is deductible as alimony to Jerry and how much must Sally include in income, respectively?
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