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Is alimony in Texas tax deductible?

Posted by Diane Wanger | Mar 19, 2014 | 0Comments

Only for divorces finalized before December 31, 2018, the Internal Revenue Code provides that post-divorce alimony payments are tax deductible by the paying spouse and taxable to the recipient spouse as "ordinary income." For this reason, it is not uncommon for a negotiated settlement to include the payment of a high amount of spousal support, because such a payment results in tax benefit to the payor.  There are some limits to the application, so be sure to check with your tax professional. For Smart Divorce in Texas

Diane

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