Alimony and Tax

[Colada 0]

Hello All,

I am in the middle of a divorce with the USC and I am receiving alimony from him every month. I just realized that I might need to file for tax return for the alimony. Anyone here is receiving alimony and know what forms I should file? How can I predict my income for the rest of this year to file the tax since it is only April? I am seeking employment and alimony is the only source of income right now.

Thanks,

Colada

[payxibka 10,044]

Hello All,

I am in the middle of a divorce with the USC and I am receiving alimony from him every month. I just realized that I might need to file for tax return for the alimony. Anyone here is receiving alimony and know what forms I should file? How can I predict my income for the rest of this year to file the tax since it is only April? I am seeking employment and alimony is the only source of income right now.

Thanks,

Colada

Are you sure it is characterized as alimony since your divorce is not yet complete?

If so, then on Form 1040... Record the amount on the Alimony received line.

Why do you need to predict your alimony? The tax forms due on April 15 2009 are for the calendat 2008 tax year

[Old Dominion 26]

Yes, you need to report the alimony or support payments on a 1040. No doubt he is reporting that deduction on his income tax return, as it reduces his taxes. By April 15, you submit the 1040 for the year 2008. A year from now, you submit the 1040 for the year 2009, so there is no need to predict anything.

But if you have no other income, maybe it will work out that you don't owe any taxes for 2008. Don't forget also your state income tax return. Good luck in your job search.