Alimony Payment

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DEFINITION of 'Alimony Payment'

A periodic pre-determined sum awarded to a spouse or former spouse following a separation or divorce. Alimony is an obligation to make payments for support or maintenance; an alimony payment is the actual sum paid to fulfill the obligation. A decree or court order outlines the alimony payment structure and requirements.

BREAKING DOWN 'Alimony Payment'

When a married couple becomes legally separated or divorced, a court may determine the legal obligation of one of the individuals to provide money to the other to provide the type of financial support to which he or she has become accustomed to throughout the life of the marriage. In the United States, the Internal Revenue Service permits alimony payments to be deductible by the payer, and requires the recipient to include the alimony payments as income. Child support payments are separate from alimony payments.

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RELATED FAQS
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    The maximum Social Security retirement benefit payable to a divorced spouse is 50% of the amount that would be paid to the ... Read Full Answer >>
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    If you are eligible to receive Social Security retirement benefits on your own account, your marital status has no impact ... Read Full Answer >>
  3. Can a divorced woman collect Social Security from her ex-husband?

    While a number of conditions must be met, a divorced woman is able to collect Social Security benefits through her ex-husband. ... Read Full Answer >>
  4. How do alimony and child support factor into my taxable income?

    The Internal Revenue Service, or IRS, applies a different tax treatment to alimony than child support. Most forms of alimony ... Read Full Answer >>
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