If the divorce or separation agreement mandating the alimony payments was entered into by December 31, 2018, the alimony payments are taxable to the recipient and deductible by the payer. However, if the divorce or separation agreement is made or modified on or after Jan 1, 2019, the alimony payments are not taxable to the recipient and not deductible by the payer.
Articles in this section
- Do you pay tax yearly on the interest on CDs or when the CDs are cashed?
- What is the difference between "ordinary dividends" and "qualified dividends"? My 1099 dividend statements were marked by the companies as both.
- Do I pay taxes on child support?
- Are alimony payments taxable?
- I received an academic scholarship. Is this taxable?