No, child support is not tax deductible to the payer, nor taxable income to the recipient.
Spousal maintenance (alimony) is tax deductible to the paying spouse and taxable income to the recipient spouse, but when it comes to the costs of raising a child, the IRS treats your child support payments the way it would treat the routine costs that go with housing, feeding, and clothing a child in a family that hasn’t divorced.
That is, you can’t write off the ice cream cones, toys, and purchases of new clothes every few months for your growing child. Similarly, you can’t write off the financial equivalent of those expenses that you pay in the form of the child support.
The most important thing you can do to protect yourself financially is ensure that your income has been properly calculated for the purposes of the child support order, and if you can prove you are overpaying, work with the court for a modification.
The attorneys at Friedman & Ranzenhofer handle child support modification actions for clients all over the Rochester area, and can help ensure that your payment is fair and protects your child.
Call us today at 716-542-5444 for a free consultation with an experienced Rochester child support attorney.