Answer:
a. How will the $20,000 payments be treated by Fred and Tammy if covered by prior law? b. How will the payments be treated if the divorce is covered by new law? c. What is Tammy's basis in the residence? d. What role would a tax adviser play in a divorce?
Explanation:
a. For Fred, the 20,000 must be included in income. There is no deduction for paying alimony. For Tammy, the amount is not included in income.
b. If the divorce was complete prior to December 31, 2018, Fred can deduct the $20,000 payments as alimony.
If the divorce was complete prior to December 31, 2018, Tammy must include the $20,000 payments in gross income.
c. It's $100.000,00
d. Tax advisors are responsible for determining the value of property given in lieu of cash for an alimony payment.
Answer:
Answer: Most bills will have an effective date noted in the text of the bill. If an effective date is not noted, however, and if the bill passed by a two-thirds majority, then the bill takes effect immediately. If the bill does not pass by a two-thirds majority, then the bill becomes effective 90 days after adjournment.
Explanation:
Answer:
B. Consent
Explanation:
The definition of Consent is to give permission or approval.
