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Under the terms of a divorce decree executed May 1 , 2 0 1 8 , and which has not been amended since, Ahmed transferred
Under the terms of a divorce decree executed May and which has not been amended since, Ahmed transferred a house worth $ to his exwife, Farah, and was to make alimony payments of $ per month. The property has a tax basis to Ahmed of $
Required:
How much of this must be reported on Farahs tax return?
Of that amount, how much is taxable gain or loss that Farah must recognize related to the transfer of the house? a Reportable payments per month
b Taxable gain or loss recognized
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