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kaheart [24]
3 years ago
7

Under the terms of a divorce agreement entered into in 2017, Lanny was to pay his wife Joyce $2,000 per month in alimony and $50

0 per month in child support. For a 12-month period, Lanny can deduct from gross income (and Joyce must include in gross income): a.$0. b.$6,000. c.$30,000. d.$24,000. e.None of these choices are correct.
Business
1 answer:
tatyana61 [14]3 years ago
4 0

Answer:

Lanny's deductible income = $24,000

Explanation:

Given:

Lanny's payment per month (Wife) = $2,000

Lanny's payment per month (Child) = $5,00

Lanny's deductible income = ?

Computation of Lanny's deductible income :

Lanny's deductible income = Lanny's payment per month (Wife) × 12 month

Lanny's deductible income = $2,000 × 12 month

Lanny's deductible income = $24,000

Note: Payment made for the support of a single child must not be deducted in Gross Income.

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