Is The Alimony I Am Receiving Taxable Income?

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The information contained in this blog is for educational purposes only and is not legal advice.  The use of this blog does not create an attorney/client relationship between you and the Law Offices of Wallitsch & Iacobelli.  If you are considering separation or divorce, or if you are involved in any legal matter including, but not limited to present divorce proceedings, custody proceedings, or support proceedings, or any other legal matter, you should seek formal legal advice and would strongly urge you to retain an attorney.

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Question: Is the alimony I am receiving taxable income?

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Any monies received as a result of a Support Order and allocated as spousal support or alimony pendente lite or an Order for alimony is taxable income to the recipient spouse and a tax deduction to the payor spouse. Accordingly, if you are the recipient spouse it is imperative that you make appropriate arrangements to set aside a portion of your alimony to address any tax issues that may arise at year end.
Additionally, in concluding your divorce, it is imperative that the Agreement is drafted so as to not include alimony in the recipient spouse’s income for the purposes of a child support calculation. A failure to address this issue could result in a substantial decrease in child support payments.
Attorney Iacobelli is uniquely trained to address and counter this scenario.

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