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Barney and Betty got divorced in 2018. In the divorce decree Betty agreed to pay...

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Accounting

Barney and Betty got divorced in 2018. In the divorce decree Betty agreed to pay Barney $48,100 per year for five years (or until Barneys death or remarriage) and $14,800 per year until their daughter, Pebbles, turns 19 years old. What amount (if any) is included in Barneys gross income in 2019?

Multiple Choice

  • $62,900

  • $14,800

  • $48,100

  • None of the payments are included in gross income

  • $87,200

Answer & Explanation Solved by verified expert
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