Sunday, November 13, 2011

Is child support and alimony considered taxable income ?

My husband and I are splitting . We have three minor children . It is amicable and we are filing a no-fault divorce . He has agreed to pay me 1200.00 a month spousal support and 1200.00 a month child support . Would it be in my best interest to see if he would show on the forms that all money is going towards child support to at least avoid having to pay taxes at the end of the year for this ? The IRS is already sucking me dry on my paycheck !

No comments:

Post a Comment