Under a divorce agreement executed in the current year, an ex-wife receives from her former husband cash
Question:
a. Does the ex-wife have gross income? If so, how much?
b. Is the former husband entitled to a deduction? If so, is it for or from AGI?
Refer only to the IRC in answering this question. Start with Sec. 71.
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a Yes According to Secs 71a and b the wife includes 25000 per year Also t...View the full answer
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
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