Separate Maintenance Payments

Separate Maintenance Payments

Amounts paid to one spouse by the other spouse under a court order or agreement while they live apart.
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When calculating their New York AGI, taxpayers who have alimony or separate maintenance payments made under an alimony or separation agreement that was executed or modified after December 31, 2018, are required to?--
Some of these payments represent alimony and separate maintenance payments (referred to simply as alimony in this column), which are deductible by the payer in arriving at adjusted gross income and are taxable income to the payee (Sees.
Alimony and separate maintenance payments generally are taxable to the recipient and deductible from gross income by the payor (even if the payor does not itemize).
Alimony and separate maintenance payments (collectively referred to as alimony) are taxable to the recipient and deductible by the payor.
Alimony and separate maintenance payments can be deductible from income by the payor under I.R.C.
The presumption in the first situation will be rebutted conclusively if the reduction is a complete cessation of alimony or separate maintenance payments during the sixth post-separation year (described in A-21) or upon the expiration of a 72-month period.
71(a) provides that gross income includes amounts received as alimony or separate maintenance payments. Sec.
Since the $20,000 annual payments will not end at the death of the former spouse, these payments will not qualify as deductible alimony or separate maintenance payments. Note however, that the separate $10,000 annual payments will qualify as alimony or separate maintenance payments.
When marriages dissolve, two issues arise concerning the amount and timing of alimony or separate maintenance payments. In many cases, extensive negotiation determines the amount, but the timing of payments often receives cursory consideration.
71 (a) requires alimony or separate maintenance payments to be included in a recipient's gross income.
71, which includes taxable alimony or separate maintenance payments received under a decree of divorce or separate maintenance.
Alimony or separate maintenance payments must be made for at least three consecutive years.