Are alimony payments deductible for the recipient?

In Delaware, alimony payments are deductible for the recipient. This is according to the IRS (Internal Revenue Service), which states that alimony payments are taxable to the recipient and deductible for the payer. The alimony payments must be made in cash or cash equivalents and must be pursuant to a written separation or divorce agreement between the parties. Additionally, the payment must not designate the payment as something other than alimony or hold the recipient as responsible for paying taxes on the payment. Generally speaking, the recipient must report alimony payments as income and the payer can take a deduction for the alimony paid in the tax year in which the payment was made. The payer must include the Social Security Number of the recipient in order to claim the deduction. It is important to note that the alimony payments are not deductible if the recipient is considered the spouse or former spouse of the payer. This includes same-sex marriages recognized by a state or foreign jurisdiction, even if the state or foreign jurisdiction does not recognize same-sex marriage. Overall, alimony payments are deductible for the recipient in Delaware and the payer is allowed to take a deduction for the amount paid in the same tax year. It is important to note that the alimony payments must meet certain criteria in order to be deductible and same-sex marriages are also subject to the same deduction requirements.

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Are alimony payments deductible for the recipient?

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