Is Child Support Tax Deductible. Why isn't child support deductible? Get tax answers from h&r block.
Claiming dependency with joint custody. From child care to student loans, brush up on what is—and isn't—tax deductible so you can save the most money the trouble has trickled to the youngest grades. Which type of payment is better? However, your child support payments are not tax deductible. Therefore, child support isn't tax deductible either.
However, while alimony is tax deductible, child support is not.
Similarly, making child support tax deductible would make the whole system more unfair and open to greater misuse by those looking to reduce their commitments by paying less child support legally. Amounts paid for child support are not deductible to the payor or taxable to the recipient. Child support and taxes are each intimidating subject areas individually. Prior to the passing of the tax cuts and jobs act, alimony. The amount of support declared at the date of settlement is not considered income for the parent who receives it; Child support is not tax deductible, and it isn't taxable income to the parent or child who receives it. Therefore, child support isn't tax deductible either. Instead, the amount of child support you provide usually doesn't matter. There are also other tax implications, such as the mortgage interest deduction, that may not be related to children but still need to be part of an agreement or court order so that you tax filing in the future goes smoothly. The irs has some firm rules explaining why. Why isn't child support deductible?
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