Richard and Sally Murphy were divorced in 2016. By the terms of their decree Richard pays Sally
Question:
Richard and Sally Murphy were divorced in 2016. By the terms of their decree Richard pays Sally \(\$ 1,000\) a month for alimony and child support. When Jane, their 14-year-old daughter, reaches age 18 , the payments will be reduced by \(\$ 300\) per month.
Explain to Richard and Sally their tax status for 2018.
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Under the tax laws in effect for 2018 alimony and child support are treated differently for tax purposes 1 Alimony Payments Prior to the Tax Cuts and ...View the full answer
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Related Book For 
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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