If a divorce is in your plans for 2019, consider the new tax treatment for those agreements finalized after Dec. 31, 2018. All agreements finalized in 2019 will no longer be taxable or deductible.
This means the person receiving the alimony will not owe taxes on the income, and the person paying the alimony can no longer deduct the expense.
This change does not affect agreements with alimony considerations in place before Jan. 1, 2019, but current agreements revised in 2019 may be affected.
