OT -- Alimony
 

question for you attorney and tax guru's


if i'm court obligated to pay my ex's credit cards -- can that be considered alimony as far as a deduction on my taxes ?

Boy...is sure seems so, but attorney and tax guru'I'm not. Sounds like you should have one doing your taxes!

Let me be the first to say....I DON'T KNOW....

But, I found this online (Smart Money) for you. I'll keep looking and see if I can find something directly related to what you're talking about.

http://www.smartmoney.com/divorce/ba...ry=alimonycalc

When calculating alimony recapture, the following payments are not included. So, don't enter them into our calculator.


· Payments made under a temporary support order.
· Payments required over a period of at least three calendar years based on a fixed percentage of income from a business, a property, salary or self-employment. In other words, don't count payments that are intended to vary according to your income if such variable payments extend over at least three years.
· Payments that decrease because of the death of either former spouse or the remarriage of the former spouse receiving the payments.

Okay...I know this is long - but skip right to pages 10, 11 +

http://www.irs.gov/pub/irs-pdf/p504.pdf

I'm no tax atty, but I would say "NO".

It probably comes under "division of assets and liabilities", not alimony.

thats what i was afraid of --

i'll do a little more research


thanks for the info!!!

i would say, sell everything you own to your best friend dirt cheap, put all the money in a safe deposit box at the mgm grand in las vegas and declare bankruptcy. and when the judge ask's you where all the money went just say you were depressed and went on a gambling binge and spent all the money. someone i know did this and it worked like a charm.:D ;) :p :cool:

too late!

my divorce is already finalized -- and our assests have been split up !!!


now i'm just trying to figure out a way to recoup some of the money i'm paying for her!!!

I think the distiction is - was it HER credit card you both of your credit card? If it's hers and you pay it 1. kill your friggin lawyer and 2. I'm thinking claim it.

I hope a CPA get's here soon!!!

her credit card -- in her name


yes my attorney sucked -- but at the same time -- i make 4 times what she makes -- so i'm paying for me making a better living!!

its a long story -- and i'm not even THAT bitter about it