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

70.2K

Verified Solution

Question

Accounting

Barney and Betty got divorced in 2018. In the divorce decree Betty agreed to pay Barney $52,600 per year for five years (or until Barneys death or remarriage) and $13,000 per year until their daughter, Pebbles, turns 19 years old. What amount (if any) is included in Barneys gross income in 2019?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students