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:

Brachiocephalic Vein

A large vein in the upper chest that forms from the union of the internal jugular and subclavian veins and drains blood from the head, neck, and upper limbs.

Hepatic Portal Vein

A blood vessel that carries blood from the gastrointestinal tract and spleen to the liver, crucial for nutrient processing.

Superior Mesenteric Vein

A vein in the abdomen that drains blood from the small intestine, ascending colon, and transverse colon into the portal vein.