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You divorce in 2018 and are required to pay alimony. Alimony payments made in 2020 will be deductible in 2020 and thereafter? (T) True or (F) False
A couple sells its house and can get a $500,000 deduction if they have lived in it __ of the last 5 years.
If you get divorced in 2020 and are awarded alimony. If you receive alimony, you must report that alimony on your 2020 return? (T) True or (F) False
For 2018 the exemption amount goes from 4,050 per dependent to what amount in 2020 based upon the current new law? A) 0 B) 8,100 C) 5,000 per dependent?
You normally itemize deductions and wish to do so in 2018. Your total itemized deductions must exceed the standard deduction for a married couple, what amount is the standard deduction in 2020? A) 12,000 B) 24,000 C) There is no longer a standard deduction, all itemized deductions are deductible