Stan and Anne were divorced in January 2016. The provisions of the divorce decree and Annes obligations
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Stan and Anne were divorced in January 2016. The provisions of the divorce decree and Anne’s obligations have not been changed since the original agreement and are as follows:
- Anne is to make the mortgage payments for 17 years regardless of how long Stan lives. Anne paid $9,870 in 2019 on the mortgage.
- Anne is to pay Stan $1,800 per month for 10 years or until Stan dies. Of this amount, $620 is designated as child support. Anne made all payments as required in 2019.
What would the effect of each of these payments be on the AGI of Anne and Stan in 2019 – be specific in the amount?
Related Book For
Personal Financial Planning
ISBN: 978-1111971632
13th edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
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