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GreatRoleModel (original poster member #36809) posted at 9:34 PM on Tuesday, April 30th, 2013
I am in a state of disbelief but reviewing final agreement with attorney and I will NOT have to count alimony as income and pay taxes!!! He is not going to take the tax deduction either. Guess he shouldn't have bought that fairly new house when he left..he is cash poor now 
but he will continue to pull in a high 6 figure income and be just fine. I had to call my accountant just to hear his reaction...priceless 
I believe this is a little bit of karma...yeah for me, means I can fix up the house some more.
[This message edited by GreatRoleModel at 3:35 PM, April 30th (Tuesday)]
BS (me)
XNPDWS
It takes a village to deal with the village idiot!
“If we couldn't laugh we would all go insane.”
― Robert Frost
FirstLoveGone ( member #25957) posted at 3:41 AM on Wednesday, May 1st, 2013
I can understand him not taking the deduction, but how is it allowable for you to not report it as income?
I would confirm this with a tax professional.
newlysingle ( member #38735) posted at 4:43 AM on Wednesday, May 1st, 2013
I'm curious about that too. How can you not claim it?
BW - Me (40)
XWH -The Gnat
"Engaged" to OW, but the wedding appears to be indefinitely postponed.
M for 8 years, together for 10
1 DD (8), 1 DS (3)
Dday 3/13
Happily Divorced 9/20/13
Catwoman ( member #1330) posted at 10:26 AM on Wednesday, May 1st, 2013
Sorry--you have to count alimony as income. Whether or not he deducts it from his taxes is immaterial--YOU have to take it as income.
Cat
FBS: Married 20 years, 2 daughters 27 and 24. Divorced by the grace of GOD.
D-Days: 2/23/93; 10/11/97; 3/5/03
Ex & OW Broke up 12-10
"An erection does not count as personal growth."
GreatRoleModel (original poster member #36809) posted at 1:00 PM on Wednesday, May 1st, 2013
Here is the wording in the agreement and am checking with accountant:
The foregoing payments from H to Wife are not included in Wife's gross income under Section 71 of the IRS Code of 1986, or its successor (hereinafter said Code its successor are referred to as the IRS Code), said payments shall not be reported as income by Wife on her tax returns (both federal and state). The payments shall not be deducted by H on his tax returns (neither federal or state) or as an adjustment to income or as otherwise provided by law, including Section 215 if the IRS Code.
Of course I am checking with my accountant, but that fairly clear. Let's hope 
BS (me)
XNPDWS
It takes a village to deal with the village idiot!
“If we couldn't laugh we would all go insane.”
― Robert Frost
Phoenix1 ( member #38928) posted at 1:15 PM on Wednesday, May 1st, 2013
See IRS Publication 17, chapter 18... it is possible with the wording you have included in your agreement...
http://www.irs.gov/publications/p17/ch18.html
fBS - Me
Xhole - Multiple LTAs/2 OCs over 20+yrs
Adult Kids
Happily divorced!
You can't go back and change the beginning, but you can start where you are and change the ending. ~C.S. Lewis~
GreatRoleModel (original poster member #36809) posted at 9:00 PM on Wednesday, May 1st, 2013
Thanks Phoenix1 for the info.
I checked with my accountant and all is good, I do not have to pay taxes! Unbelievable and I am still in shock.
BS (me)
XNPDWS
It takes a village to deal with the village idiot!
“If we couldn't laugh we would all go insane.”
― Robert Frost
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