what is the tax rate for alimony? I am speaking of federal. thanks?

2 ⤊

2007-11-26 11:16:02 · 2 answers · asked by drwayway2002 1 in Business & Finance ➔ Taxes ➔ United States

10-35% - Alimony is taxed as ordinary income so it all depends on your total income for the year and your filing status.

2007-11-26 11:34:18 · answer #1 · answered by Wayne Z 7 · 2⤊ 3⤋

Include in your income on Form 1040, line 11, any alimony payments you receive. Amounts you receive for child support are not income to you.

2007-11-27 02:36:12 · answer #2 · answered by MukatA 6 · 0⤊ 0⤋