Which of the following is a characteristic of deductible alimony payments? (Assume a pre-2019 decree.) A) The payee must file a joint income tax return with the payor at the end of the calendar year. B) The divorce decree must state that the payments are includible by the payee C) The payments cannot extend beyond the death of the payee spouse. D) The divorce decree must state that the payments are deductible by the payor.
Which of the following is a characteristic of deductible alimony payments? (Assume a pre-2019 decree.) A) The payee must file a joint income tax return with the payor at the end of the calendar year. B) The divorce decree must state that the payments are includible by the payee C) The payments cannot extend beyond the death of the payee spouse. D) The divorce decree must state that the payments are deductible by the payor.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please answer with reason why the option is correct why the other options are incorrect
Transcribed Image Text:Which of the following is a characteristic
of deductible alimony payments?
(Assume a pre-2019 decree.)
A) The payee must file a joint income tax
return with the payor at the end of the
calendar year.
B) The divorce decree must state that
the payments are includible by the payee.
C) The payments cannot extend beyond
the death of the payee spouse.
D) The divorce decree must state that
the payments are deductible by the
payor.
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