Are alimony payments deductible for the payor?

In Arkansas, alimony payments are deductible for the payor, provided certain criteria are met. The recipient of the alimony must declare the payments as income on their tax return. The payment must be made to the recipient in cash, check, or money order. The payor must not claim a deduction for the payment and the payor and recipient must both sign a document stating that the payment is alimony. The payor must also provide the recipient with a statement that contains the payor’s name, address, and Social Security number, as well as the recipient’s Social Security number. The payment must also be made pursuant to a divorce or separation agreement that has been approved by the court, or made under a written separation agreement that has not been approved by the court. The alimony payments must not be part of a property settlement. Additionally, the payor and recipient cannot file their taxes jointly, and the payor cannot be receiving any of the alimony payments that they are paying out. If the criteria above are met, the payments are deductible for the payor. The payor would list the alimony payments as "alimony paid" on their tax return. The payor can then deduct those payments from their total income. If certain criteria are not met, the alimony payments are not considered deductible. Therefore, it is important to make sure the payment arrangements meet the criteria.

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Are alimony payments deductible for the payor?

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