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If you are considering a divorce or legal separation, 2018 is the last year for alimony or spousal maintenance to be tax-deductible. This is the best time to consider an out of court divorce using collaborative law, or at least, mediation. These options will help you reach a resolution in time to take advantage of the tax deductions for couples divorcing in 2018. The current IRS website says:

“Amounts paid to a spouse or a former spouse under a divorce or separation instrument (including a divorce decree, a separate maintenance decree, or a written separation agreement) may be alimony for federal tax purposes. Alimony is deductible by the payer spouse, and the recipient spouse must include it in income.”

n 2014, 813,000 couples divorced in the United States. About 18,500 of divorces filed in 2016 were filed in Maricopa County, Arizona. In 2016 in the United States, 361,000 taxpayers claimed alimony deductions last year, but only 178,000 reported receipt of spousal maintenance.

 

Currently, through December 31, 2018, the 75 year-old tax deduction for alimony payors will remain in effect. That deduction to the payor means the alimony is income to the payee under the following circumstances:

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