2008 Alimony Deduction

Midlifer42 · #1 (**permalink**) 02-02-2010, 10:25 AM

I've been paying alimony since 9/07. As part of the divorce settlement agreement I also pay for COBRA insurance, which will expire in 8/10. I recently discovered that I can claim the COBRA payments as part of the alimony as long as it was stated as such in the settlement agreement. I did not claim this deduction last year, but I do plan to claim it this year. Can I recover this deduction from last year and add it to this years taxes?

TaxGuru · #2 (**permalink**) 02-02-2010, 11:11 AM

No, you cannot add the 2008 amount of the COBRA payment to this years Alimony. Now, if the amount is material, perhaps you might want to amend your 2008 tax return to include the amount of the COBRA paynment (mandated by the courts) to your 2008 Alimony payment claimed on line 31a.

That would be proper tax treatment as required by the IRS!

Midlifer42 · #3 (**permalink**) 02-02-2010, 03:07 PM

Thank you for your prompt response to my previous question. I'd like to know what the best way would be to refile my 2008 return to include the alimony as previously stated. I' e-filed my 2009 return earlier today and I don't want to confuse the process by sending in my 2008 amended return too soon.

TaxGuru · #4 (**permalink**) 02-03-2010, 01:21 AM

I would seriously approach a CPA to file your 2008 Amended tax return. The e CPA can tell you the potential tax benefit to you for filing the amended tax return.

It might not be very profitable to file an amended tax return assuming your tax rate may be very low, and thus before even attempting to spend the time and effort to file an amended tax return, the CPA will be able to quickly determine whether or not it is beneficial to you or not!