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In Legal Terms: Divorce and Taxes

Professor Richard Gershon (author of seventh edition of “A Student’s Guide to the Internal Revenue Code (with Professor Jeffrey A. Maine) talks about the tax issues surrounding divorce

  • Alimony - paid is taxable for divorces (or modified decrees ) after 2019. It's not taxable if received.
  • Child Support payments - never has been taxable
  • Property Settlements - basis stays the same when transferred from one spouse to another.


Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent https://www.irs.gov/forms-pubs/about-form-8332

Publication 504 (2019), Divorced or Separated Individuals https://www.irs.gov/publications/p504

Here’s the new tax-advantaged way to pay alimony https://www.cnbc.com/2018/06/14/heres-the-new-tax-advantaged-way-to-pay-alimony.html


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