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8 July, 10:05

George and Erin divorced in 2019, and George is required to pay Erin $20,000 of alimony each year. George earns $75,000 a year. Erin is required to include the alimony payments in gross income although George earned the income.

TRUE OR FALSE?

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Answers (1)
  1. 8 July, 11:36
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    The answer is: False

    Explanation:

    Since the law was changed for the 2019 tax year, (Tax Cuts and Jobs Act 12-22-1977), alimony is no longer tax deductible nor the recipient has to report them as income. This change in the law will be in effect from 2019 through 2025. The only exceptions that apply are those couples who had finalized their divorce agreements before the end of 2018.
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Home » Business » George and Erin divorced in 2019, and George is required to pay Erin $20,000 of alimony each year. George earns $75,000 a year. Erin is required to include the alimony payments in gross income although George earned the income. TRUE OR FALSE?
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