How much can he deduct as overtime pay

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Problem

Under the terms of a divorce agreement as of April 1, 2015, Lanny was to pay his wife Joyce $2,500 per month ($30,000 for the year) in alimony and $500 per month ($6,000 for the year) in child support. For 2025, what amount can Lanny deduct from gross income (and Joyce include in gross income) ? Question 7 options: $0 $36,000 $22,500 $30,000 None of the choices presented. Arthur is a CPA and files as single in 2025. He earned a salary of $161,500. Get the instant assignment help. During tax season he worked overtime and earned $30,000 in extra overtime pay. This was computed as 1.5 times his regular hourly rate. Thus, he earned $20,000 in regular overtime pay and $10,000 in excess overtime pay. How much can he deduct in 2025 as overtime pay?

Reference no: EM134007658

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How much can he deduct as overtime pay : Under the terms of a divorce agreement as of April 1, 2015, Lanny was to pay his wife Joyce $2,500 per month. How much can he deduct in 2025 as overtime pay?

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