[jeff]

REG Resources:

Free REG Notes & Audio – https://www.another71.com/cpa-exam-study-plan

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

[Anonymous]

I think this rule is to punish the spouse who can no longer make payments and benefit the recipient of the alimony. Because the payer must include the recaptured amount as income on their 1040(meaning its taxable to them) in year 3. And the beneficiary receives a tax deduction.

The payer would include the recaptured amount in line 11 of the 1040 (strike out received and write recapture) and for the beneficiary they should amend line 31a same cross out paid and write recaptures. That would be deduction for AGI.

[Anonymous]

I think this rule is to punish the spouse who can no longer make payments and benefit the recipient of the alimony. Because the payer must include the recaptured amount as income on their 1040(meaning its taxable to them) in year 3. And the beneficiary receives a tax deduction.

The payer would include the recaptured amount in line 11 of the 1040 (strike out received and write recapture) and for the beneficiary they should amend line 31a same cross out paid and write recaptures. That would be deduction for AGI.

[Anonymous]

I think this rule is to punish the spouse who can no longer make payments and benefit the recipient of the alimony. Because the payer must include the recaptured amount as income on their 1040(meaning its taxable to them) in year 3. And the beneficiary receives a tax deduction.

The payer would include the recaptured amount in line 11 of the 1040 (strike out received and write recapture) and for the beneficiary they should amend line 31a same cross out paid and write recaptures. That would be deduction for AGI.

[Anonymous]

I think this rule is to punish the spouse who can no longer make payments and benefit the recipient of the alimony. Because the payer must include the recaptured amount as income on their 1040(meaning its taxable to them) in year 3. And the beneficiary receives a tax deduction.

The payer would include the recaptured amount in line 11 of the 1040 (strike out received and write recapture) and for the beneficiary they should amend line 31a same cross out paid and write recaptures. That would be deduction for AGI.

[Anonymous]

I think this rule is to punish the spouse who can no longer make payments and benefit the recipient of the alimony. Because the payer must include the recaptured amount as income on their 1040(meaning its taxable to them) in year 3. And the beneficiary receives a tax deduction.

The payer would include the recaptured amount in line 11 of the 1040 (strike out received and write recapture) and for the beneficiary they should amend line 31a same cross out paid and write recaptures. That would be deduction for AGI.

[Anonymous]

I think this rule is to punish the spouse who can no longer make payments and benefit the recipient of the alimony. Because the payer must include the recaptured amount as income on their 1040(meaning its taxable to them) in year 3. And the beneficiary receives a tax deduction.

The payer would include the recaptured amount in line 11 of the 1040 (strike out received and write recapture) and for the beneficiary they should amend line 31a same cross out paid and write recaptures. That would be deduction for AGI.

[NYCaccountant]

Ok, So I can deduct the alimony paid from gross income for years 1 and 2, but if I can't pay in year 3, or if I can only pay a little bit of alimony, I have to recapture in year 3 some of what I deducted in the prior years ? So basically, I'll end up owing more tax in year 3 than I otherwise would have owed? Am I getting this correct?

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[NYCaccountant]

Ok, So I can deduct the alimony paid from gross income for years 1 and 2, but if I can't pay in year 3, or if I can only pay a little bit of alimony, I have to recapture in year 3 some of what I deducted in the prior years ? So basically, I'll end up owing more tax in year 3 than I otherwise would have owed? Am I getting this correct?

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[CPA soon]

I don't really think you need to go in that much of detail such as recapture rule, I think you just need to know what to do with Alimony for adjustment purposes and what not. I wouldn't spend much time on it.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[CPA soon]

I don't really think you need to go in that much of detail such as recapture rule, I think you just need to know what to do with Alimony for adjustment purposes and what not. I wouldn't spend much time on it.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[Kenada]

The recapture Alimony isn't heavily tested so just know the rules but don't get over worked on this. There are far more important areas in REG that are more heavily tested than this. 🙂

FAR 05/27/14; 786/110 - Done !

[Kenada]

The recapture Alimony isn't heavily tested so just know the rules but don't get over worked on this. There are far more important areas in REG that are more heavily tested than this. 🙂

FAR 05/27/14; 786/110 - Done !

[Anonymous]

I would give up my pinkie finger to fully focus on key areas in the few days. I keep on discovering all my weak areas. As soon as I think I have it I am back to square!!! HDC/Bankruptcy I don't like Blaw right now. Give a break all these little things on Corp, Individual etc.

People taking the test next week if you were me what would you do? Note have 3 full days before D day.

[Anonymous]

I would give up my pinkie finger to fully focus on key areas in the few days. I keep on discovering all my weak areas. As soon as I think I have it I am back to square!!! HDC/Bankruptcy I don't like Blaw right now. Give a break all these little things on Corp, Individual etc.

People taking the test next week if you were me what would you do? Note have 3 full days before D day.

[Kenada]

Practice your weak area – do burst of random 20 questions session and keep doing as many questions as possible – Repeat question the next day that you go wrong previously. – repeating is the key to reinforcing your knowledge.

FAR 05/27/14; 786/110 - Done !

[Author]

Replies