Alimony
Alimony that’s required by divorce or separation decrees or agreements that are executed after December 31, 2018 is not deductible. Additionally, alimony received as a result of divorce or separation decrees or agreements executed after December 31, 2018 is not included in taxable income, either. It is important to note that this new rule does not affect 2018 returns or anyone who is currently paying or receiving alimony. Taxpayers who are divorced before December 31, 2018 will continue to deduct or report alimony payments.