Are alimony payments deductible?

Divorce can bring up many questions and a host of stressors, whether couples are unsure about how custody will be awarded or have uncertainty about the manner in which marital property will be split between each party. That said, spousal support is an issue that can be particularly stressful for certain people when their marriage comes to an end. Aside from issues related to actually making spousal support payments, you could be wondering how alimony might affect you in other ways. For example, you might want to know if alimony payments can be deducted when working on your taxes or if you are required to count payments you have received as income.

The Internal Revenue Service states that spousal support payments can be deducted by those who have paid alimony to their former spouse. In order for the payments to be eligible for a deduction, a number of criteria must be satisfied. For example, payments cannot be viewed as child support and spouses cannot file a joint tax return, among other stipulations. Moreover, if you have been receiving alimony payments, you should also realize that the IRS requires recipients to report spousal support payments as part of their income.

Aside from tax-related matters, a host of other questions may arise when it comes to alimony. If you are unsure about what your spousal support responsibilities are or are worried about your ability to make payments, it is pivotal to look over your choices. No part of this post is to be seen as legal counsel.

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