Sentences with phrase «qualified alimony payments»

A person making qualified alimony payments can deduct them.

Not exact matches

• Self - employed retirement and IRA contributions • Half of self - employment taxes paid • Alimony payments • Health savings accounts or self - employed health insurance payments • Student loan interest and qualified tuition costs

Your payments qualify as alimony if:

So such income as Social Security payments, disability payments, unemployment checks and alimony payments all qualify as income.

• The following are included in annual income to qualify for an RHS guaranteed loan: − Gross amount of wages, salaries, overtime pay, commissions, fees, tips, bonuses and other compensation for personal services of all adult members of the household − Net income from the operation of a farm, business or profession, interest, dividends and other net income of any kind from real or personal property − Payments from social security, annuities, insurance policies, pensions, unemployment, workers compensation, alimony and / or child support and other types of periodic receipts.

The adjustments — sometimes called above - the - line deductions because you can claim them whether or not you itemize deductions — include (among other things) deductible contributions to Individual Retirement Accounts (IRAs), SIMPLE and Keogh plans, contributions to Health Savings Accounts (HSAs), job - related moving expenses, any penalty paid on early withdrawal of savings, the deduction for 50 percent of the self - employment tax paid by self - employed taxpayers, alimony payments, up to $ 2,500 of interest on higher education loans and certain qualifying college costs.

Tips for qualifying for a Mortgage while going through Divorce 12/15/2015 Get it in writing — make sure payments for alimony and child support are agreed to in writing and ideally continue for at least 3 years.

You want to make sure that you can structure the alimony payment such that you will be able to qualify for the mortgage you need after the divorce is final.

In order to qualify for alimony, the requesting spouse must prove need and that the paying spouse is financially able to make the payments.

You and your spouse can designate that otherwise qualifying payments are not alimony.

If the payments otherwise qualify, you can deduct them as alimony on your return.

You and your spouse can designate that otherwise qualifying payments aren't alimony.