Self-Study Problem 2.13A taxpayer (payor ex-spouse) is required to pay an ex-spouse (recipient ex-spouse) alimony of $12,000 per year. Determine how muchalimony is deductible by the payor ex-spouse and how much alimony is recognized as income by the recipient ex-spouse based on thefollowing information:If an answer is zero, enter "0".Detailsa. The payments are made in 2021 as part of a divorce decreeexecuted in 2018. The divorce decree is modified in 2021 toexplicitly apply the provisions of the TCJA.b. The payments are made in 2021 as part of a divorce decreeexecuted in 2016.c. The payments are made in 2021 as part of a divorce decreeexecuted in 2021.Deductible bypayorIncludable byrecipient0000

Serial no. Deductible by payer Includable by recipient a $0 $0 b $12,000 $12,000 c $0 $0

Answered: A taxpayer (payor ex-spouse) is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Serial no.	Deductible by payer	Includable by recipient
a	$0	$0
b	$12,000	$12,000
c	$0	$0