Accounting Question
31a Divorce settlement paid to be added = $12,000 + $9,880 = $21,880
Alimony sum does exclude kid support. For this situation, when the Child turns 18 provision sum is reduced to $1,500 each month, which implies $750 ($2,250 - $1,500) is paid for the youngster support. Therefore, equivalent has been discarded from support permitted as finding. The provision paid is $12,000
Alimony sum will contain the measure of housing loan interest paid by Mr.R for the benefit of Kathy for 8 months which is $1,235 X 8 months =$9,880
L 40
--Standard deductions =$6,350
--Itemized deductions = $4,940 [51,235 " 4]
[mortgage interest paid when Mr.R was the owner of the house] Hence whichever is higher = $6,350
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