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Tags: federal,form
Reporting alimony
Alimony is taxable to the person who receives it, and deductible to the person who pays it. If you receive alimony, you must give your Social Security Number to the payer. Not doing this could result in a penalty.
If you receive or pay alimony, you must use Form 1040. This cannot be reported on Forms 1040A or 1040EZ.
Child support is not taxable or deductible.
Tags: federal,form