Is California Spousal Support Or Alimony Taxable Income
Today, we’re talking more about spousal support and alimony payments and specifically how they work regarding your taxes.
We’re going right now for a publication print out by the California Franchise Tax Board.
And this video is going to answer the question if, and here is the question, are alimony payments considered taxable income.
So eventually the question in a couple different ways, the prior videos we talked specifically about can you deduct it?
So that would be regarding going to the person who’s paying spousal support or alimony in California.
This goes to the person receiving it is all the payments considered all the alimony or spousal support payments considered taxable income.
And this is what the Franchise Tax Support says. Alimony from your spouse or former spouse is taxable to you either you received. Tax payors reports alimony in command.
Okay, so, alimony from your spouse or former spouse is taxable to you and that you receive.
So if your receiving spousal support and it meets all the criteria that we previously talked about, if you haven’t watched the video you look for the one regarding can I do debt alimony paid.
We talked about five criteria or requirements for that to be deducted.
I’m sure that applies to that receiving it because if you can’t claim it as a tax or as an alimony payment you’re not obviously going to claim it as income received if you’re receiving the California alimony or spousal support payments.
So make sure you check this series of videos because it kind of go hand and hand. You’ll probably want to watch all of them.
We’re going to shoot all about 12 videos regarding alimony and spousal support and how it’s treated tax wise.
And again we’re referring right to the State of California Franchise Tax Board publication regarding alimony.
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