| Are alimony payments considered taxable income?
Alimony and separate maintenance payments from your spouse or former spouse are taxable to you in the year received and includable on your personal tax return.
Alimony is a payment from a spouse or former spouse under a divorce or separation instrument. Any voluntary payments not specifically part of the divorce decree are excludable on your personal tax return.
These are reported on only Form 1040 and the code section specifically excludes taxpayer from using Form 1040A or Form 1040EZ.
The income is taxed at the taxpayers ordinary income tax rate and not subject to Self-Employement taxes.
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