Q: Are the spousal exempt property and family allowance amounts taxable for federal or state taxes?
If I claim the exempt property in the amount of $30K, and/or the family allowance of $30K would these items be subject to federal or state income taxes?
A:
I'm not sure if this question relates to divorce or inheritance, so here are the answer for both.
Divorce:
Alimony (spousal support) is taxable to the recipient and is deductible to the person paying; child support (family support) is not taxable to the recipient and not deductible to the person paying.
Estate/Inheritance:
Inheritances are tax-free transfers, but estate (death tax) may apply--the personal representative/trustee manages this.
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