How To Pay Taxes on Alimony Income
Alimony is considered income to the recipient according to U.S. tax law. The Internal Revenue Service (IRS) has the authority to oversee tax filing and issues tax forms each year that are approved for filing. You can pay taxes on alimony income by reporting the receipt of alimony on your tax return along with any other income and deductions you would otherwise file. Reporting alimony received does not require special filing or forms.
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Instructions
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Calculate the total amount of alimony received for the tax year. Make sure you report the correct figure. Your former spouse gets to deduct alimony paid, so this is an easy item for the IRS to double-check for irregularities.
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Enter the total amount of alimony received for the tax year on Form 1040 in the "Income" section. For the 2009 tax year, alimony is reported on Line 11.
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Complete the remainder of Form 1040 with your personal information, other income information and deductions.
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Calculate your total amount of taxes due based on your adjusted gross income (AGI). You can use tax tables provided by the IRS in the Form 1040 Instructions to determine the total amount of tax due. The calculation is performed on the back side of Form 1040 in the "Tax and Credits" section of the form.
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Enter the amount of taxes paid during the tax year and any tax credits you are eligible to receive on Form 1040 in the "Tax and Credits", "Other Taxes" and "Payments" sections of the form.
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Subtract the total amount of taxes paid and tax credits from the total amount of taxes due. Enter the difference in either the "Refund" or "Amount You Owe" section on the back of Form 1040.
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Tips & Warnings
If you are uncertain how to prepare your tax return, consider hiring a tax professional to assist you.
