Is alimony considered income?

Yes, alimony is considered income in Washington. This means that if you receive alimony payments, you are required to report it as income on your federal and state tax returns. There are specific rules regarding alimony payments that must be followed to ensure that it is treated as income. In Washington, alimony payments must be part of a written agreement between the spouses. This agreement must be filed with the court and will specify the amount of the payments and the duration of payments. The payments must be made in cash or check, and must not be made in any other form. In addition to being reported on taxes, alimony may also be subject to Social Security and Medicare taxes as well as state and local taxes. If the payments are not considered alimony by the IRS, they may be considered taxable income. Alimony payments can be used to help a person financially during or after a divorce. Alimony may also be used to pay for medical and educational costs for a spouse. In Washington, alimony payments are typically tax deductible for the paying spouse, and taxable income for the receiving spouse.

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Is alimony considered income?

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