Discussion:Back child support
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Discussion Forum Index --> Tax Questions --> Back child support
| 17 March 2006 | |
| Am I correct that if the former spouse (the one to be payin the child support) died during 2005, the back child support owed (court-ordered) would still not be a nonbusiness bad debt?
Seems that it would not be but it is a large number that I wonder if the death changes the conclusion. Also, since the money was never received, and the parent had to pay the expenses anyhow, would that constitute the economic interest? | |
| 18 March 2006 | |
| Even if it were a nonbusiness bad debt, the basis in the debt is zero, making the deduction zero. | |
| 18 March 2006 | |
| but if enforceable, can be collected which is better than deducted | |
Chautauqua (talk|edits) said: | 18 March 2006 |
| Helluva way to get out of paying child support. Riley2 is correct, zero basis, no deduction. If ever collected, it probably will be income. | |
| 20 March 2006 | |
| Child support is not taxable. Why would back child support be taxable? | |
Chautauqua (talk|edits) said: | 20 March 2006 |
| I concede. Warren and Taxea are doubtless correct. My fingers can be faster than my brain! | |
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