I know that child support is not deductible, but is the interest paid on back child support deductible for federal or state taxes?
Thanks always for your support.
I know that child support is not deductible, but is the interest paid on back child support deductible for federal or state taxes?
Thanks always for your support.
What interest?
If you don’t pay court-ordered child support, and they eventually catch up with you and make you pay up, you have to pay the arrearage, plus interest.
I’ll leave the OP’s question to someone who knows for sure, but my immediate instinct is to say, “No,” since you can’t deduct the interest on most of your debts, other than your mortgage.
Heh, I kept reading it as black child support, and was wondering what the hell interest on black child support had to do with anything? :dubious:
Funny, very funny.
Yes (in my opinion) it is funny. To the OP, though, the answer appears to be ‘no,’ as this appears to be personal interest.
Thanks.
“No it’s not”" was the direct answer to your OP question, not a comment on the humor of the “black child support” comment.