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Survivor Benefit Plan Premiums are deductible?
In a 2017 divorce decree I was ordered to make monthly Survivor Benefit Plan premiums for my ex wife. $578 each month is removed from my military pension(before taxes) to pay for this "policy". These premiums I pay are broadly considered alimony. My ex wife is the only one who will benefit from this SBP when I die. This money taken from my pay is clearly used to pay for a policy for her. Can I deduct these premiums, about $7000 each year on my federal tax return?
‎August 25, 2022
6:01 AM