Mr. Marner is divorced. In 2020, he received monthly spousal support of $1,000 and monthly child support

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Mr. Marner is divorced. In 2020, he received monthly spousal support of $1,000 and monthly child support of $500. How much of these support payments have to be included in his income for the year?

-Mr. Lowry had a capital gain of $12,000 when he disposed of his rental property.

Compute his federal tax on the capital gain. (Assuming a combined federal tax rate of 26%)

Posted Date: Dec 15, 2021 06:33 PM

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Mr. Marner is divorced. In 2020, he received monthly spousal support of $1,000 and monthly child support

Question:

Expert Answer:

The answer is 12000 which he will include in his income tax return Monthly support he received 1000 ... View the full answer

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