.

Can I Deduct My Alimony Payments?

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.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something