Jake pays the following amounts to his former spouse during the current year: Regular alimony payments.....................................................$ 12,000

Question:

Jake pays the following amounts to his former spouse during the current year:

Regular alimony payments.....................................................$ 12,000 

Child support ..............................................................................10,000 

Residence as part of a property settlement ........................115,000

What amount can Jake deduct as alimony for the current year? Assume the divorce occurred before 2019. 

a. $0 

b. $12,000

c. $22,000  

d. $137,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

South-Western Federal Taxation 2019 Comprehensive

ISBN: 9781337703017

42th Edition

Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young

Question Posted: