Wealth Management Essentials (WME)
Free 20-question WME practice test. Start below.
Question 1 · Support payments taxation
Jonathan and Celine signed a written separation agreement in 2024. It requires Jonathan to pay Celine $1,800 per month in spousal support and $1,200 per month in child support, with each amount specified separately. In 2026, Jonathan made all 12 monthly payments on time. He also paid Celine a one-time $25,000 lump sum to release him from all future spousal support obligations.
How much can Jonathan deduct on his 2026 tax return for these payments?
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About this exam
Wealth Management Essentials (WME)
Wealth planning, taxation, registered accounts, and client-facing portfolio recommendations.
Exam syllabus
What WME candidates need to cover
WME is usually won by candidates who can connect planning, taxation, registered accounts, and client recommendations into one decision flow rather than separate notes.
Wealth planning foundations and client goal setting
Taxation, registered plans, and account selection logic
Retirement, estate, and long-range planning considerations
Portfolio recommendations and risk-aligned asset mixes
Client meetings, advice framing, and suitability judgment
Review, rebalancing, and long-term plan maintenance