2006-08-17 15:25:46 · 5 answers · asked by Arlene B 1 in Business & Finance ➔ Taxes ➔ United States
It depends upon the interpretation of the term under local law. In some states it appears that alimony in solido (which means periodic payments of a lump sum) is a form of property settlement, in which case it should not be deductible by the payor or taxable to the recipient. In at least one case it has been held that alimony in solido is not alimony for tax purposes because (under Tennessee law) it did not terminate with the death of the recipient spouse.
2006-08-18 11:04:02 · answer #1 · answered by TaxGuru 4 · 0⤊ 0⤋
I'm not familiar with the "in solido" term, and didn't find it on the irs.gov website, but as a general rule, alimony is taxable to the recipient.
2006-08-17 18:52:14 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Yes, taxable to the recipient and an adjustment to gross income for the payer.
2006-08-18 01:25:01 · answer #3 · answered by Adios 5 · 1⤊ 1⤋
thank you! Very valuable information and it offers me better insight on this topic
2016-08-23 04:38:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Not totally sure about this
2016-08-08 12:53:45 · answer #5 · answered by ? 3 · 0⤊ 0⤋