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Author Question: Thomas and Sally were divorced last year. As a result, Thomas must pay Sally alimony of $100,000 per ... (Read 77 times)

HudsonKB16

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Question 1

The term "Social Security benefits" does not include
◦ supplementary Medicare benefits.
◦ tier-one railroad retirement benefits.
◦ disability benefits received under Social Security.
◦ retirement benefits received under Social Security.

Question 2

Thomas and Sally were divorced last year. As a result, Thomas must pay Sally alimony of $100,000 per year starting this year and relinquish the house and car with a combined value of $170,000 and a combined cost basis of $155,000. The house and car are given as a property settlement. As a result of these transactions Thomas has a deduction of
◦ $100,000.
◦ $155,000.
◦ $170,000.
◦ $270,000.


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Marked as best answer by HudsonKB16 on Sep 13, 2020

upturnedfurball

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HudsonKB16

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


kalskdjl1212

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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