Chris has gotten divorced in 2020. He pays a lump sum payment of $100,000 for spousal support, and then doesn't have to pay any in the future. He must pay $1,000 per month in child support starting in January 2020 ($12,000 total for the year). What is the impact on Chris' income in 2020?

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To calculate the impact on Chris income in 2020 we need to consider the lump sum pa... View the full answer