Divorce
Check out the following FAQs:
Please note that the alimony rules have changed for divorces finalized after December 31, 2018. Starting in 2019, if you pay alimony, you can't deduct it. On the other hand, if you receive alimony, you won't have to report it as taxable income. This change also applies to divorce agreements executed before 2019 if they were modified after December 31, 2018, and the modification specifically states that the rule change affecting the alimony deduction applies to the modification.
Please note that the alimony rules have changed for divorces finalized after December 31, 2018. Starting in 2019, if you pay alimony, you can't deduct it. On the other hand, if you receive alimony, you won't have to report it as taxable income. This change also applies to divorce agreements executed before 2019 if they were modified after December 31, 2018, and the modification specifically states that the rule change affecting the alimony deduction applies to the modification.
