Is a one time lump sum alimony tax deductible?

Asked over 1 year ago - Palo Alto, CA

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 ?

Attorney answers (3)

  1. Cathleen Elisabeth Norton

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    Contributor Level 17

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    Answered . The answer to your question really depends on what your agreement says. Spousal support is deductible if it is spousal support and meets certain criteria set forth in the IRS rules. An equalization payment is not tax deductible. I strongly suggest that you speak to your your lawyer to make sure that the proper language was included in your Judgment so that it is tax deductible. It might also be a good idea to read IRS Publication 504: http://www.irs.gov/pub/irs-pdf/p504.pdf Good luck.

    If you found this answer helpful, let me know by clicking the "Mark as Helpful" button or "Best Answer" at the... more
  2. Edna Carroll Straus

    Contributor Level 18

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    Answered . You need to get advise from a tax attorney.

    Ms. Straus (aka Carroll) may be reached at 800-400-8978 during regular business hours, Pacific Time, or anytime by... more
  3. Brian Joseph Munson

    Contributor Level 13

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    Answered . Alimony is deductible. However, this sounds more like a property settlement, which is not deductible.

    This answer does not establish an attorney-client relationship, Moreover, this attorney is Licensed to practiced... more

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