Under the terms of a divorce agreement dated January 1, 2018, Edmond was to pay his wife Donna $3,000 per m alimony and $500 per month in child support. Payments began on January 1, 2018. In addition, Donna received t family residence with a cost basis of $210,000 and a fair market value of $260,000.
a. What is the amount that Donna must include in income for the twelve- month period ended December 31, 2
b. What is the basis in the home which Donna received as a result of the divorce?

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The Answer of Under the terms of a divorce agreement dated January 1, 2018, Edmond was to pay his wife Donna $3,000 per m alimony and $500 per month in child support. Payments began on January 1, 2018. In addition, Donna received t family residence with a cost basis of $210,000 and a fair market value of $260,000.
a. What is the amount that Donna must include in income for the twelve- month period ended December 31, 2
b. What is the basis in the home which Donna received as a result of the divorce?

Under the Terms of a Divorce Agreement Dated January 1