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Do you need to put the payments you received for child support on your income taxes?
Wiki User
∙ 11y ago
No.
Wiki User
∙ 11y ago
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Do you pay taxes on child support if you have a high income bracket?
No Child support payments are neither deductible by the payer nor taxable to the payee. When you calculate your gross income to see if you are required to file a tax return, do not include child support payments received. However, alimony, separate maintenance, and similar payments from your spouse or former spouse are taxable to you in the year received:
Is child and spousal payments protected from garnishment in AZ?
only child support. Spousal support is taxable income.
Is receiving child support considered income?
Presuming you mean for taxes...as for lenders and such the answer may be different. 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.
If you are not receiving child support payments can you receive a tax break for income loss?
Unless you are producing children as a side business to being a prostitute, the money received is not income to show a loss on.
Can a new spouse's income be used to reduce child support payments?
if you are paying child support and have a new spouse, their income will not count toward child support unless the two of you have your own children together.
How often are you supposed to receive child support payments?
Generally, child support payments coincide with the frequency that the obligor receives income. How quickly the obligee receives those payments is a function of how efficient the payor of income is in forwarding them to the State and how efficient the State is in distributing them.
Do you get tax credits if you pay child support?
No tax credit and no tax deduction on your income tax return for child support payments.
In Michigan do you have to pay income tax on child support received?
If you were a resident of Michigan or had taxable income from sources in Michigan, then yes.
Is your roommate's income viable for child custody?
No. The roommate is not related to you in any legal sense, therefore their income does not come into the picture when figuring your means of child support payments or the receiving of such payments thereof.
Do you have to pay child support if you file a 1099?
Child support is based on all income received, including unearned income (but not public assistance/SSI).
Does child support count as income for a mortgage?
No as it is not permanentI just had two mortgage brokers tell me that if you received it for the last three months and there are several more years left before the child is 18, it IS income. creditinfocenter.com says, "Alimony and Child Support Income - Must be received for the 12 previous months and continue for the next 36 months. Lenders will require a divorce decree and a court printout to verify on-time payments.
Can court force a person to get a job if they can afford child support payments without one?
Child support is based on net income. The courts can require the obligor to look for work if they decide that his non-work income is not sufficient to support the child.
