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Author Question: On April 1, 2016, Martha, age 67, begins receiving payments of $3,000 monthly from her employer's ... (Read 81 times)

jake

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Question 1

Marisa and Kurt divorced in 2014. Under the terms of the divorce agreement, Marisa was to pay Kurt $110,000 in 2014 and $60,000 each year following until Kurt's death or remarriage. What must Kurt report on his tax return for 2016 regarding these transactions?

Question 2

On April 1, 2016, Martha, age 67, begins receiving payments of $3,000 monthly from her employer's qualified retirement plan. She had contributed $90,000 to the plan in after-tax dollars. The anticipated number of payments is 210.  Using the simplified method, how much of the payments are taxable in 2016?


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Marked as best answer by jake on Sep 13, 2020

jasonq

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jake

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


Joy Chen

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Reply 3 on: Yesterday
Wow, this really help

 

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