Alimony Received Is Taxable to the Recipient While Child Support

question 37

True/False

Alimony received is taxable to the recipient while child support payments are not.

---

Definitions:

Financial Institution

An organization that provides financial services such as banking, investments, insurance, and loans to businesses and consumers.

Bills Of Exchange

Written orders for the payment of a specified sum of money to a designated person, either on demand or at a set time.

Legislation

Laws that have been enacted by a legislature or other governing body.

Jurisdiction

The official power or authority of a legal body to make decisions and judgments in a specific geographic area or over certain types of legal cases.