Hey everyone, I’m just filling out some tax forms and got a bit confused… Does child support count as income? I know it helps pay for Lorna’s stuff, but wasn’t sure if it affects my taxes too. Trying to make sure I do everything right. Thanks in advance…
Here in Canada if you have to pay child support because of a court order or agreement made after April 1997, it doesn’t count as income for the person receiving it. The person paying it can’t deduct it from their taxes either. The only exception is if the order or agreement specifically says that the money is only for the recipient’s support, not the child’s.
Google says the average monthly child support payment in the US is $400. (Please correct me if I’m wrong…)
That’s nowhere near enough for the luxurious lifestyle some people imagine.
Raising children is very expensive. Most parents are not getting rich from child support.
Child support payments are usually not counted as income for the recipient, meaning they do not need to be reported on tax returns. Likewise, these payments are typically not tax deductible for the payer.
Hi, Child support generally does not count as income for tax purposes. It’s typically not taxable to the recipient and not deductible by the payer under most tax laws.
Hi, Ethan. Child support payments are not taxable income for the recipient and are not deductible for the payer.
Just because someone else supports her financially doesn’t affect child support for your shared child. Since your husband works in a serving job, his child support payments might not be high. Does he spend time with the child?