Lanny and Shirley are recently divorced and do not live together. Shirley has custody of their child,
Question:
a. How much should Shirley include in income if Lanny's payments are made in cash but will cease if Shirley dies or remarries?
b. How much should Shirley include in income if $12,000 of Lanny's payments is designated as "nonalimony" in the divorce decree?
c. How much should Shirley include in income if Lanny's payments drop to $15,000 once Art reaches the age of 18?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a 22000 is includible in Shirleys gross income as alimony T...View the full answer
Answered By
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
2+ Reviews
10+ Question Solved
Related Book For 
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Question Posted:
