Summary: <p>Professor Richard Gershon (author of seventh edition of “<a href="http://www.lexisnexis.com/store/catalog/booktemplate/productdetail.jsp?pageName=relatedProducts&prodId=10622" target="_blank">A Student’s Guide to the Internal Revenue Code (with Professor Jeffrey A. Maine</a>) talks about the tax issues surrounding divorce</p><ul> <li>Alimony - paid is taxable for divorces (or modified decrees ) after 2019. It's not taxable if received.</li> <li>Child Support payments - never has been taxable</li> <li>Property Settlements - basis stays the same when transferred from one spouse to another. </li> </ul><p><br></p><p>Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent <a href="https://www.irs.gov/forms-pubs/about-form-8332" target="_blank">https://www.irs.gov/forms-pubs/about-form-8332</a></p><p>Publication 504 (2019), Divorced or Separated Individuals <a href="https://www.irs.gov/publications/p504" target="_blank">https://www.irs.gov/publications/p504</a></p><p>Here’s the new tax-advantaged way to pay alimony <a href="https://www.cnbc.com/2018/06/14/heres-the-new-tax-advantaged-way-to-pay-alimony.html" target="_blank">https://www.cnbc.com/2018/06/14/heres-the-new-tax-advantaged-way-to-pay-alimony.html</a></p><h1><br></h1><br><hr><p style="color:grey;font-size:0.75em;"> Hosted on Acast. See <a style="color:grey;" target="_blank" rel="noopener noreferrer" href="https://acast.com/privacy">acast.com/privacy</a> for more information.</p>
