Are the child support payments tax deductible payments from S-Corp on 1120S tax returns?=========è>>Sorry No, your child support is not tax-deductible. The payer cannot take a deduction for child support payments. Likewise, your ex does not need to include these payments as income for tax purposes.
Child support USUALLY interacts with other aspects of taxes. For example, a portion of alimony can be considered as child support payments, and thus not tax deductible for the person paying the alimony.I mean the payer CAN deduct only th e alimony portion.
If yes, what is the category for the child support payment?==è>As mentioned above |