Alimony Recapture Worksheet

 

Alimony paid in 2nd calendar year *
Alimony paid in 3rd calendar year *
Alimony paid in 1st calendar year *
Alimony Recapture
$ 0
  

* marks required fields.

Alimony Recapture-General Rule

If alimony payments decrease or terminate during the first 3 calendar years, the payer may be subject to the alimony recapture rule. The result from the calculation above would be included as income in the third year the payer made the alimony payment.

This financial calculation is taken from IRS guidelines, Publication 504, 2008. The calculations take into effect the IRS "floor" decrease of $15,000. The IRS has listed inclusions and exclusions for alimony, which should be reviewed prior to making any conclusion of the subsequent recapture of alimony.Users should consult with a Financial Divorce Specialist or tax attorney before making any final decisions regarding the tax aspects of paying alimony.

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