What amount troy can deduct from gross income


Under the terms of a divorce agreement, Troy is to pay his wife Brook $1,200 per month. The payments are to be reduced to $800 per month when their 12-year-old child reaches age 18. During the current year, Troy paid $14,400 under the agreement. Assuming all of the other conditions for alimony are satisfied, what amount Troy can deduct from gross income (and Brook must include in gross income) as alimony:

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What amount troy can deduct from gross income
Reference No:- TGS052614

Expected delivery within 24 Hours