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Difference between revisions of "Tax Implications of Support Payments"
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Tax Implications of Support Payments (view source)
Revision as of 03:46, 28 September 2020
, 03:46, 28 September 2020→When spousal support payments are taxable and deductible
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# Paid because of a written agreement or a court order. The written agreement or court order must clearly state the amount to be paid to the recipient as spousal support. | # Paid because of a written agreement or a court order. The written agreement or court order must clearly state the amount to be paid to the recipient as spousal support. | ||
# Paid on a periodic basis, such as once a month or once every two weeks. (Spousal support paid in a one-off lump sum is generally not taxable or deductible.) | # Paid on a periodic basis, such as once a month or once every two weeks. (Spousal support paid in a one-off lump sum is generally ''not'' taxable or deductible.) | ||
# Actually paid by the payor. | # Actually paid by the payor. | ||