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mom2b
LIF Adult
Member since 5/09 1072 total posts
Name: x
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Tax Question for those who pay child support
I keep getting mixed answers on this. My DH pays child support is he able to use that money as a deduction for his taxes?
Someone told me that if we file jointly and do an itemized form that he will be able to.
Anyone have experience with this?
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Posted 2/13/10 9:15 AM |
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ziamaria
I love this boy!
Member since 4/07 3372 total posts
Name:
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Re: Tax Question for those who pay child support
from what we've been told, it's taken out before taxes and not elligble...it suxs but that's what we've been told.
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Posted 2/13/10 10:30 AM |
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maxsgirl
LIF Adult
Member since 1/06 2086 total posts
Name: sarah
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Re: Tax Question for those who pay child support
From IRS website:
Alimony, Child Support, Court Awards, Damages
Question: Are child support payments considered taxable income? Answer: No, child support payments are neither deductible by the payer nor taxable to the payee. link
Therefore, you can't deduct the payments for tax purposes and the BM doesn't include the payments in her income either.
Message edited 2/13/2010 11:09:21 AM.
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Posted 2/13/10 11:08 AM |
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hbugal
Lesigh
Member since 2/07 15928 total posts
Name:
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Re: Tax Question for those who pay child support
Posted by maxsgirl
From IRS website:
Alimony, Child Support, Court Awards, Damages
Question: Are child support payments considered taxable income? Answer: No, child support payments are neither deductible by the payer nor taxable to the payee. link
Therefore, you can't deduct the payments for tax purposes and the BM doesn't include the payments in her income either.
What she said...
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Posted 2/13/10 9:39 PM |
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ziamaria
I love this boy!
Member since 4/07 3372 total posts
Name:
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Re: Tax Question for those who pay child support
thanks for the link...doesn't it suck :(
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Posted 2/14/10 8:04 AM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name: MJ
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Re: Tax Question for those who pay child support
Just so you know -- while he may not deduct child support -- he may be able to claim Non-Custodial Earned Income Credit for NYS.
Its form IT-209.
If you guys make good money, he probably won't be able claim it, as it's really designated for those who are low income and make $45K or less.
But I figured I'd throw it out there, just in case, ask your tax preparer about it.
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Posted 2/15/10 12:15 PM |
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Re: Tax Question for those who pay child support
Posted by hbugal
Posted by maxsgirl
From IRS website:
Alimony, Child Support, Court Awards, Damages
Question: Are child support payments considered taxable income? Answer: No, child support payments are neither deductible by the payer nor taxable to the payee. link
Therefore, you can't deduct the payments for tax purposes and the BM doesn't include the payments in her income either.
What she said...
Yup
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Posted 2/16/10 3:42 PM |
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