If you have to pay alimony, you may be interesting in knowing which documents you need to keep. Think of alimony like a bill, and remember that the documents you keep can influence your taxes and may be necessary in future court appearances.
Since your alimony payments are tax deductible in most situations, you’ll want to have records of everything you have paid out, so you can take that deduction on your taxes. You should maintain a document with a list of when each payment was made and include how much each payment was for. Remember to include a check number, the address where you sent the check or keep a copy of the cashier’s check.
If you are sending checks, keep copies of each check you mail. Some bank accounts now automatically keep copies of checks when they’re cashed, but it’s a good idea to keep your own copies at home in your personal records.
Additionally, keep receipts for all alimony payments that you make in cash. You should always have the other person sign the receipt so that you can prove that he or she accepted the cash for the alimony payment that month.
You need these documents if you want to claim deductions on your taxes and also in case of a tax audit. Keep these records for at least three years for tax purposes. You may wish to keep them longer so that you’re always able to prove that you paid alimony in full to your ex-spouse. Your attorney can help advise you on the best way to maintain these records.
Source: FindLaw, “Alimony Guidelines: What Records to Keep Regarding Your Alimony,” accessed May 05, 2017