Answered: What is the amount of Bob’s alimony…

What is the amount of Bob’s alimony deduction and the alimony income Carol must report this year? Group of answer choices $36,000 $14,400 $26,400 $4,800

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter16: Tax Research

Section: Chapter Questions

Problem 50RC

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

Carol and Bob’s divorce became final in 2017. Each month, Bob is required by the divorce decree to pay $3,000, of which $1,800 is stated as child support. This year, Bob has paid only $2,200 each month. What is the amount of Bob’s alimony deduction and the alimony income Carol must report this year? Group of answer choices $36,000 $14,400 $26,400 $4,800

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