Alimony
Payments made to a spouse or former spouse under a separation or divorce agreement.
Investopedia Commentary
For the receiver, payments are considered taxable income for the payer, they are a deductible expense.
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See also: Deduction, Income, Income Tax
alimony
in divorce law, compensation owed by one spouse to the other for financial support after divorce. Alimony aims at support of the one spouse, not punishment of the other. In some places, the term means simply a property settlement irrespective of future support. Alimony has traditionally been granted from husbands to wives but has occasionally been granted from wives to husbands.
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