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How much should karen include in taxable income

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Reference no: EM132821289

Bob and Karen were granted a divorce in 2018. In accordance with the decree, Bob made the following payments to Karen in 2019:

Lump-sum settlement in property $52,000
Annual periodic alimony payments in cash 12,000

Problem 1: Bob is not required to make cash payments after Karen's death. Bob and Karen were not members of the same household at any time during 2019. None of the payments were designated as child support. How much should Karen include in her 2019 taxable income as alimony?

Group of answer choices

Option 1: $0

Option 2: $52,000

Option 3: $12,000

Option 4: $64,000

Reference no: EM132821289

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