Is alimony income taxable?

In Oklahoma, alimony payments are treated as taxable income for the individual receiving it. The person who pays alimony must report the amount of alimony paid on their federal income tax return and can usually deduct the payments from their taxable income. The recipient must then include it as taxable income on their taxes, with a few exceptions. For one, if the alimony is paid as part of a divorce or separation agreement that was executed before December 31, 2018, then the payments are not taxable income to the recipient. In addition, if the alimony is paid for the support of a child, then the payments may not be taxable to the recipient. It is important to note that the alimony recipient must report and pay taxes on alimony payments in the same year the alimony is received. The recipient cannot defer or delay reporting the payments until the following year. Furthermore, if the alimony payments stop or are reduced, the recipient must report and pay taxes on the income received for the year in which the payments stopped or were reduced. In short, alimony payments may be taxable in Oklahoma for the recipient, depending on the specifics of the situation. It is important to consult with a tax professional to ensure that the recipient is properly reporting and paying taxes on all alimony income.

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Is alimony income taxable?

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