Under a divorce agreement executed in 2013,Bob is required to pay his ex-wife,Carol,$3,000 a month until their youngest daughter is 21 years of age.At that time,the required payments are reduced to $2,000 per month.
a.How much of each $3,000 payment may be deducted as alimony by Bob?
b.How much of each $3,000 payment must be included in Carol's taxable income?

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The Answer of Under a divorce agreement executed in 2013,Bob is required to pay his ex-wife,Carol,$3,000 a month until their youngest daughter is 21 years of age.At that time,the required payments are reduced to $2,000 per month.
a.How much of each $3,000 payment may be deducted as alimony by Bob?
b.How much of each $3,000 payment must be included in Carol's taxable income?

Under a Divorce Agreement Executed in 2013,Bob Is Required to Pay