There’s never a good time for Divorce – but maybe 2019 is better than 2018. It depends on which side of the bed you are on!
For 2018, alimony payments will continue to be income for the recipient and a deduction for the one paying. I always thought this was kind of backwards. Typically, the recipient has the lower income of the two (usually quite a bit lower), yet has to pay tax on this income which often has put her (or him) in a higher tax bracket. So the alimony received isn’t the amount you think it may be! … just my thoughts…
However, for Tax Year 2019, alimony received will not be included in taxable income, so the full amount is received and the payer does not receive a deduction.
