Judy1
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Your grandma the accountant is correct - child support is not taxable to the recipient nor deductible by the payer. Check irs.gov and key in "child support" in the search box on the upper right. Look at the first couple results - you'll get confirmation of this.
You're supposed to get child support directly? That's a new one - normally it's owed to the other parent, i.e. your mom. Is there some special situation here that might make it technically something other than child support? Or are you saying that your parents' divorce decree or followup court proceedings said your dad had to pay support TO YOU, rather than to your mother for you? That would be real strange, since you'd only likely get it while you were a minor and there would almost certainly be someone, probably your mother, who would be responsible for your care and therefore be the one getting the support. If it was FOR you, but ordered to go to your mom and your dad just never paid it so is now in arrears, she would still be the one to get the back amount even if you're now an adult. |
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goliathntime
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Child support is non-taxable income, alimony is taxable income. |
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skip
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Child support that you receive is not taxable upon you. Alimony is. To be taxable, alimony must be paid under a court-approved arrangement. Voluntary payments are not taxable to you either. If you get both alimony and child support and your ex fails to pay the full amount ordered, the payments are allocated first to child support then to alimony. The link below should help. It is a long document so here is an excerpt
"Child support. A payment that is specifically designated as child support or treated as specifically designated as child support under your divorce or separation instrument is not alimony. The designated amount or part may vary from time to time. Child support payments are neither deductible by the payer nor taxable to the payee.
Specifically designated as child support. A payment will be treated as specifically designated as child support to the extent that the payment is reduced either:
On the happening of a contingency relating to your child, or
At a time that can be clearly associated with the contingency.
A payment may be treated as specifically designated as child support even if other separate payments are specifically designated as child support." |
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tg
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According to the IRS website:
"Are child support payments considered taxable income?
No. Child support payments are neither deductible by the payor nor taxable to the payee. When you total your gross income to see if you are required to file a tax return, do not include child support payments received. For additional information, refer to Tax Topic 422, Nontaxable Income, or Publication 504, Divorced or Separated Individuals.. "
www.irs.gov |
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mochachreme
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No. Child support recieved or paid should not be claimed. Only Alimony is taxable. The person receiving it has to pay taxes on it, and the person paying alimony gets a tax break... Go figure. |
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Andreas
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Goliathntime and FICpa have given you correct answers and good additional information. (Others after them got it correct as well.) Child support payments are not taxable income to the recipient and are not deductible by the payer.
However, the issue may exist as to who gets to claim the child or children as dependents for tax purposes. If an agreement does not exist between the parents, then the parent who provides more than 1/2 of the support for the year is entitled to claim the dependent exemption. All amounts paid as child support qualify as support provided by the payer and not the person who spends the money. In addition, any other amounts paid for the child's benefit, such as school tuition, medical insurance premiums, clothes, books, etc. also count as support if paid in addition to the child support payments. |
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Grrl
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No, you do not. Child support is the estimated amount of your ex's income that would be spent on the child if you were together. Your ex pays the income taxes. He cannot deduct child support from his taxes and you don't report it on yours.
I mean, if you were together and he gave you ten bucks to run to the grocery store to buy formula for the baby would you report that as income for you? |
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FlCpa
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You have received the correct answer several times but just to add more support - the child support is not taxable income. This payment is considered the reimbursement to the custodial parent for the expenses the other parent would pay if they were cohabiting. IF you also receive alimony that amount is taxable income to you and a tax deduction on the payor's return.
FYI - When someone lists a deductible alimony payment they are required to list the recipients social security number so that the IRS can match the income on the recipients return. IF the payor of YOUR child support has been doing this don't be surprised if you receive a notice from the IRS that says you owe taxes on that amount of income. Be prepared to show the legal documentation awarding the payment that states that it is court-ordered child support and NOT alimony. |
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in love with superman
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No you don't have to claim child support but you do have to claim Alimony. |
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Chantelle D
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I would ask but I don't think so because that is money for your baby you could be putting that money away for collage or university but look in to it, It cant hurt |
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Marsha
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the taxes are paid out on the person paying the support payment not the receiving person
if properly submitted, the IRS will keep a percentage of his refund from his income(whatever the source) and this is what is paid out to you
contact your local child support office for futher information or check out the IRS.gov site for further information
up to you about splitting with your mom but remember if she is the one who DID care for you during that time, the finances came from whatever source of income she had
best wishes! |
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texascomet
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go to the irs website. |
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porkchop
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The people who answered that you DO have to report child support are just stupid. Go to the irs website - irs.gov - if you want to know the truth. Half the people here gave you the wrong answer. You have a computer, look it up yourself and for god's sake stop asking serious tax questions on yahoo. |
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Amanda H
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Yes, you 'claim it", but it goes in a special section and I dont think you get taxed on it. But you do need to report it if you received it. |
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Texan
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I believe there is a place to list child support received. I'm not sure if you have to pay taxes on it but you do have to report it. Go to IRS.GOV for your answer. |
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twism
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yes there is a section that asks for child support received for the year. The site is www. IRS.gov
Honestly you need to let the accountant that is doing your taxes know this.
If you dont tell them they might not get you first time, But they will by 2nd year. Then you will owe what ever the year before was and then this next year that you filed.
Best bet is to pay back the taxes on it. Look we all have to file taxes and pay. What makes you different. Stop trying to save money, Try getting an education to better help that child of yours. As well i hope you are using the entire amount of child support on the child or children and not on your hair and nails or drinking with your slut friends.
To poster stl r your an idiot that is the point of yahoo answers to get answers not to go elsewhere and look it up ourselves. This is to be used as a conveyance not to get idiotic point gaming like you.
Also btw you need to learn the difference people in deductions and taxable income.
There is a difference in those and thats why both parties have to list child support on there taxes. |
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oldsoftee2001
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yep. gotta pay hose taxes.
on the tax form instructions it says to list all income and it defines income for you. one of them is child support.
ps. they know you are receiving it because they are giving the dad a deduction for child support paid and he told them it was to you. therefore they are expecting you to report it. |
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tiggerkitty3
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you have to claim it as income- only if you actually get it. i'm court ordered to receive child support and have not had to claim it in a while because i haven't received it in forever. my ex is in arrears over $75,000. i don't know of the website to back up your fiance and his sister, but you might try the irs website. its listed in your local phone book and has lots of tips and rules. |
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elaeblue
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You want to do so. The child support will be a deduction for the payer. Check H&RBlock.com |
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