Divorce CPE question - Spidell

Divorce CPE question

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Message Board Divorce CPE question

This topic contains 4 replies, has 4 voices, and was last updated by Mark Prendergast 10 months ago.

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  • #33817
    Anonymous

    If payment of mortage interest and perhaps property taxes can count as alimony, can the taxpayer who pays it also take a deduction for mortgage interest and property taxes on Schedule A as well as the deduction for alimony?

  • #35540
    Anonymous

    If you are asking about taking two deductions for the same expense, the answer is no.

    • #35541
      Anonymous

      Lynn, can you please answer this question?? at the end of the webinar, you and Kartryn referenced taking 1/2 alimony and half mortgage…can you please elaborate? That part did not make sense and there was a lot of static on the recording

      • #35542
        Lynn Freer
        Participant

        If the taxpayer and spouse own the property 50/50 and the pay or pays 100% of the payment then half is his share of the payment and he deducts the interest. The other half is her share and is alimony 

  • #120040
    Mark Prendergast
    Participant

    It’s important to see what the marital settlement agreement (MSA) says.  People can do whatever they want and they tend to make up rules as they go . . . or try to make up the rules after they’ve done the deed.

    If the MSA says Spouse1 pays the 100% of the mortgage/prop taxes for the house in which Spouse2 resides as part of the spousal support, then it’s alimony.

    If the MSA says Spouse1 is required to pay his/her share of those costs (based on ownership) and Spouse2 pays his his/her share, then it’s not alimony.

    Gotta start with the MSA to see exactly what the court says.  Not what the client thinks it’s all about.