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Tax Law (Questions About Taxes)/Alimony & retirement buy out


rob wrote at 2013-07-22 00:41:29
I disagree. Lump sum payments are NOT generally alimony, but property transfers. Therefore, the asker would not have taxable income - except that here, the transfer is more than 6 years after the divorce, so the presumption is that the transfer is taxable.

No tax to recipient = no tax deduction for payor.  

Tax Law (Questions About Taxes)

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Carole Dunton


Preparation of individual income tax returns including social security, pensions, lump sum distributions, sale of personal residence, stock and mutual fund sales, distributions from individual retirement accounts, moving expenses and itemized deductions. General knowledge of schedule C for small sole proprietorships. No experience in corporate, estate, partnership or large business returns.


9 years as tax preparer for major national firm.

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