Taxpayer made these payments for spousal support:
Year 1- $22,000
Year 2- $40,000
Year 3- $0
Year 2 was monthly payments then a lump sum to end the alimony. I did worksheet one in Pub 504.
This will be subject to recapture in year 3, correct? I'll need to break the news to the taxpayer.
Thanks!
Year 1- $22,000
Year 2- $40,000
Year 3- $0
Year 2 was monthly payments then a lump sum to end the alimony. I did worksheet one in Pub 504.
This will be subject to recapture in year 3, correct? I'll need to break the news to the taxpayer.
Thanks!