Can prepaid alimony be deducted in full? I'm confused on the recapture rules.
Client hasn't come in yet so I'm not sure what the whole story is but wanted to find some answers beforehand.
My confusion comes with the the three year rule - this will be the first year, so payments have not decreased because they haven't started but he said he wants to prepay the entire amount rather than continue to make payments in the future.
Sorry if it seems a stupid question - my brain is tired!
Client hasn't come in yet so I'm not sure what the whole story is but wanted to find some answers beforehand.
My confusion comes with the the three year rule - this will be the first year, so payments have not decreased because they haven't started but he said he wants to prepay the entire amount rather than continue to make payments in the future.
Sorry if it seems a stupid question - my brain is tired!