The provisions of the divorce decree and obligations

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Stan and Anne were divorced in January 2015. The provisions of the divorce decree and Anne’s obligations follow: Transfer title in their resort condo to Stan. At the time of the transfer, the condo had a basis to Anne of $75,000, a fair market value of $195,000; it was subject to a mortgage of $58,000 Anne is to make the mortgage payments for 17 years regardless of how long Stan lives. Anne paid $9,130 in 2015 on the mortgage. Anne is to pay Stan $1,200 per month, beginning in Feb, for 10 years or until Stan dies. Of this amount, $520 is designated as child support. Anne made all the payments required in 2015. What would the effect of these payments be on the AGI of Anne and Stan?

Reference no: EM131025646

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