tax purposes

[ajblasingame]

If you are the custodal parent (that pays support)in a divorce decree with children (2), can you claim one child on your taxes? Is that something handle between the parties or can it be requested by the custodal parent? -AJ Dallas,TX

 

[LdiJ]

If you are the custodal parent (that pays support)in a divorce decree with children (2), can you claim one child on your taxes? Is that something handle between the parties or can it be requested by the custodal parent? -AJ Dallas,TX

Under the federal tax code, the only person who can claim the child is the person with whom the child primarily resides, unless that parent gives a signed form 8332 to the other parent, releasing the exemption to them.

However, many divorce agreement and/or orders do assign the tax exemption to parents on any every other year basis, or spliting the exemptions if there are multiple children.

However if the agreement is silent on the issue, then the federal tax code applies.

 

[mistoffolees]

Under the federal tax code, the only person who can claim the child is the person with whom the child primarily resides, unless that parent gives a signed form 8332 to the other parent, releasing the exemption to them.

However, many divorce agreement and/or orders do assign the tax exemption to parents on any every other year basis, or spliting the exemptions if there are multiple children.

However if the agreement is silent on the issue, then the federal tax code applies.

The only clarification being that if the child resides with both parents an equal number of nights, there are a couple of 'tie breakers', with the first being whoever has the highest adjusted gross income.

 

[LdiJ]

The only clarification being that if the child resides with both parents an equal number of nights, there are a couple of 'tie breakers', with the first being whoever has the highest adjusted gross income.

Yes, that is true. However under most 50/50 parenting schedules, taking into consideration holidays etc., and the fact that the number of days in a year is odd, its nearly impossible to prove a true 50/50 schedule under the federal tax code.