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Health & Fitness

Can I Deduct My Alimony Payments?

Jeff Teismann, Neighbor

Generally, alimony you pay is deductible (even if you don't itemize) while alimony you receive is taxable. 

Alimony received is considered earned income for purposes of contributing to an Individual Retirement Arrangement (IRA). 

Child support payments received are not taxable and child support payments paid are not deductible.

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