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Is almony income? And can I file tax on almony

 
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Ashby
New Member

Is almony income? And can I file tax on almony

Alimony (spousal support) you received should be reported as income if the divorce or separation agreement is executed by December 31, 2018.  Don't report child support.

Alimony payments resulting from agreements executed after 2018 no longer have to be reported due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. The same holds true for agreements modified after 2018 if the new version specifically states that the TCJA treatment of nonreportable alimony payments now applies.

To report alimony you received:

  1. Open (continue) your return in TurboTax.
  2. Inside TurboTax, search for alimony received and then select the Jump to link in the search results.
  3. Answer Yes to Did you receive alimony or spousal support? and follow the onscreen instructions.

Did you know?  If you are required to report alimony income, it's considered unearned, which means it doesn't count as earned income for the Earned Income Tax Credit (EITC). However, taxable alimony meets the taxable compensation requirement to be able to contribute to a Traditional IRA.

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