Court has not granted the divorce yet but I paid a one time lump sum alimony of $75K in 2012 according to a written agreement with my wife. Can I deduct this for 2012 even though court has not finalized the divorce yet? Can we both file together as 'Married' and still deduct this $75K alimony ?
Divorce / Separation Lawyer
You should consult with a certified public account regarding your taxation issues. Usually you cannot claim alimony as a deduction if you are filing as a married couple. In addition, lump sum alimony payments are not treated as taxable income when negotiated in an agreement. However you should carefully review the language in your agreement with a qualified family law attorney. Good luck.
Advice provided is of a general nature to provide guidance. Divorce law is state specific. One should always check the laws in their home jurisdiction. An attorney-client relationship is not intended or established through provided responses.
6 lawyers agree
Divorce / Separation Lawyer
Attorney Reinert gave you outstanding advice, the devil is in the details in this question and the separation should discuss it, if not then please chat with you CPA, take care.
Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Massachusetts. Responses are based solely on Massachusetts law unless stated otherwise.
10 found this helpful
5 lawyers agree
Criminal Defense Attorney
By definition I believe Alimony is deductible and taxable to recipient
henry lebensbaum esq 300 Brickstone Sq Ste 201 andover, ma -- email@example.com (978) 749-3606.
Criminal Law (all courts), Drunk Driving, Drugs, Violence, Sex Offenses, theft, SORB, Divorce Child Custody Alimony Child Support & Modification, Contempts & Paternity Juveniles Domestic Violence & Restraining Orders, Business Law, Personal Injury, Guardianship, Conservatorship & Estate Administration & Legal Malpractice. For these & other areas, contact me. Email sent may be copied intercepted or held by computers.
Criminal Law (all misdemeanor & felonies in District and Superior Courts), Drunk Driving and Drug arrests, Sex Offenses, SORB, Crimes involving Violence or Theft, Domestic (Divorce, Child Custody, Alimony and Child Support) and Family Law (Modification, Contempts & Paternity), Juvenile Law, Domestic Violence and Restraining Orders, Business Law, Personal Injury claims, Probate Law (Guardianships, Conservatorships & Estate Administration) and Legal Malpractice. For these and other areas, contact me. NOTE: This preceding message DOES NOT create an attorney-client relationship. It is not a protected or confidential communication. The statements made herein are not to be interpreted as representations or warranties of any kind. No reliance should be placed on the statements made herein. It is recommended that the recipient(s) should undertake their own research to reach their own opinion. The writer does not accept professional responsibility on this matter. TO CREATE an attorney-client relationship REQUIRES a signed retainer/fee agreement along with a retainer fee that must be received by my office.
1 lawyer agrees