Is alimony taxable?

Alimony is taxable, but it’s a bit complicated. The spouse paying the alimony does not have to include the alimony as part of his or her net income. That is, if a man makes $100,000 a year and has to pay $35,000 in alimony, he can list his net income as $65,000 on his tax returns. His ex-wife, who makes $30,000 a year, would have to list the alimony payments on her net income, for a total of $65,000. She needs to pay taxes on this money. The man, however, does not have to pay taxes on the $35,000 in alimony, as the money will only be taxed once.

If you have questions about alimony payments, contact a West Palm Beach divorce lawyer of Eric N. Klein & Associates, P.A. at 561-353-2600.

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