1 Source: Journal of Accountancy. https://www.journalofaccountancy.com/issues/2013/apr/20126248.html. Accessed 1/13/23.
2 Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin
3 It’s important to note that the person receiving alimony payments under an instrument executed after 2018 generally does not have to pay federal taxes on that income, per the 2017 Tax Cuts and Jobs Act. Different rules apply to instruments executed before 2019. Exceptions and limitations may apply, and state and local tax results may differ; consult your tax advisor.
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