Legal Question in Family Law in New Jersey
Alimony and tax reporting
If I am paid alimony (that is due for the next 2 years @ $30K/yr)in one lump sum today, will I be responsible for paying the taxes all of it on 2009's income tax reporting?
Asked on 6/01/09, 6:21 pm
1 Answer from Attorneys
Gary Moore
Gary Moore Attorney At Law
Re: Alimony and tax reporting
Unless your property settlement agreement states to the contrary, alimony is your former wife's income and she must pay the taxes on same. There is a line on your federal tax return to list alimony payments, thereby reducing your taxable, adjusted gross income.
Call me if you like.
Gary Moore, Esquire
Hackensack, New Jersey
www.garymooreattorneyatlaw.com
Answered on 6/01/09, 7:00 pm
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