Mia is required under a 2017 divorce decree to pay $600 of alimony and $300 of child support per month for 12 years. In addition, Mia makes a voluntary payment of $100 per month. How much of each total monthly payment can Mia deduct in 2018?
The first year's interest on the loan was reported as $550, and his AGI for the year was less than $65,000. The amount that Korey can claim on his 2018 tax return is: A. $0. B. $225.
C. at least one course hour. A. at least half-time work load. Horatio and Maria are married and have three children. Horatio is self-employed and pays health insurance premiums for himself and his family.
A. An employee (or spouse) who works for an employer with a high-deductible health plan.
One of Horatio's children is not a dependent because she is 25 and earns too much income. B. Horatio's net income from his business exceeds the cost of the health insurance premiums. C. Horatio and Maria's children are all dependents for tax purposes.
Because the payments decrease to $14,000 per year when the child turns 18, the amount of $10,000 is seemingly child support and not alimony. Beginning in 2019, alimony will no longer be deductible by the payer spouse nor included in income of the recipient spouse.
A married student filing jointly. A. A student who is claimed as a dependent on another's return. In 2014 through 2017, Korey, who is single, borrowed a total of $25,000 for higher education expenses on qualified education loans.