Essay2 Flashcards
(4 cards)
1
Q
Filing a Joint Tax Return
A
The parties MUST be married at the end of the year.
If they divorced during the year, they may not file a joint return even if they agree to do so.
2
Q
Rule for Child Support
A
If any portion of a payment to a spouse or former spouse is fixed by the decree or agreement as being in support of the payor’s children, the sum is not deductible by the payor.
3
Q
Rule for Alimony
A
Cash payments made to a spouse or former spouse are deductible to the payor BUT there must be no obligation to make such payments after the death of the recipient.
4
Q
Are legal costs incurred during a divorce proceeding considered personal expenses or business expenses?
A
Personal expenses, and therefore are NOT deductible.
