TENNESSEE ALIMONY & TAXES
Can I deduct alimony payments from taxes?
It is possible. Federal tax laws can be very complicated. Always consult an accountant or tax lawyer for proper advice for your specific situation. Most of the time, for a taxpayer paying alimony to be allowed to deduct those payments from taxes, certain criteria must be met. Those criteria include:
The recipient must be a spouse or former spouse;
There must be a written divorce or separation instrument;
Alimony must be made with cash payments (such as checks and money orders);
Alimony does not continue after the recipient dies;
The parties must live apart, residing in different households;
The parties must file separate tax returns (they cannot file a joint return and claim the alimony deduction); and,
The court ordered payment of alimony cannot state that payments are not deductible.
That means I can write off alimony from my taxes?
This is a possibility. Check with your accountant or tax professional. See the requirements above.
What is the future of alimony in Tennessee?
This is a great question. No one can predict the future. As the frequency of the traditional marriage reduces, so will alimony as a goal in society. In Tennessee, no one expects a major change in the immediate future. While the concept of alimony may seem outdated to many, the reality is that the need for alimony still exists. This is so a supported spouse leaving the marriage will have some sort of help to make that transition.