Question
Mr. and Mrs. Wright were legally divorced in 1984. The court decree of divorce was entered into on April 20, 1984. Mr. Wright is required
Mr. and Mrs. Wright were legally divorced in 1984. The court decree of divorce was entered into on April 20, 1984. Mr. Wright is required to pay Mrs. Wright $3,000 a month from May 1, 1984, through May 1, 2019. The payments are not subject to contingencies. Mr. Wright also made a voluntary payment of $1,000 to Mrs. Wright on April 1, 2018. Assuming Mr. Wright made all of the payments required by the divorce decree, what is the amount of alimony deductible on his 2018 return?
A. $0
B. $1,000
C. $36,000
D. $37,000
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
