With Respect to Alimony and Property Settlements in a Divorce

question 80

Multiple Choice

With respect to alimony and property settlements in a divorce or separation,all of the following are true with the exception of

• A)a property settlement does not result in income to either spouse.
• B)no tax deduction is allowed for payment of a property settlement.
• C)the spouse receiving a property settlement has a basis equal to the basis of that property to the paying spouse prior to payment.
• D)no deduction is allowed for alimony paid to the former spouse if a property settlement is also paid.

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Definitions:

Condition

A state of health or a specific physical or mental state that someone is in.

Automatic

Operating or moving independently of human control or intervention.

Delirium

describes a sudden change in the brain that causes mental confusion and emotional disruption, often temporary.

Mental Confusion

A state of bewilderment or perplexity, often resulting from a disruption of one’s mental faculties.