Is alimony considered income?

In Oregon, alimony is generally considered income for federal tax purposes as well as for state and local tax purposes. Alimony is also considered income for purposes of determining eligibility for public assistance programs such as food stamps and Medicaid. This means that any alimony payments received must be reported as income on tax returns and used to determine eligibility for public assistance. Alimony is generally not considered income for purposes of calculating Social Security benefits. However, any alimony payments received in 2020 or later may be counted as income for purposes of calculating Social Security benefits. When a party receives alimony, the payor is allowed to deduct these payments from their federal taxes and, in some cases, state taxes. This deduction can be very beneficial for the payor as it can significantly reduce their overall tax burden. In Oregon, alimony is generally considered income for tax purposes and for determining eligibility for public assistance programs. However, it is not considered income for calculating Social Security benefits, and the payor is allowed to deduct alimony payments from their federal taxes.

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Is alimony considered income?

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