Spilker Taxation of Individuals and Business Entities Roger CPA Review Qu. 005 Bret and Jay finalized their divorced in Year 1. The divorce decree provides that Bret must pay Jay $20,000 per year until their child turns 18 years old in Year 5, upon which the payments will be reduced to $15.000 until Jay's death. During Year 2. Bret and Jay agreed that Bret would pay $16.000 directly to Jay and $4,000 to a private school for their child's tuition, What amount, if any. of these payments should be reported as taxable income in Jay's Year 2 income tax return? Multiple Choice $0 $15,000 $16,000 $20,000