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Divorce & Exemptions

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R

Rasesa

Junior Member
What is the name of your state? Georgia

I've asked this question all over the internet!!

Been divorced since June 2006. 3 minor children. Settlement agreement stipulates that we split children for exemption purposes. This year...I claim 2, she 1. We have agreed which ones this year.

Settlement agreement does not stipulate which parent is Custodial. It is silent. We share 50/50 physical and legal custody. Half the time with me, half with her. I pay her child support due to income disparity.

Is a form 8332 (release of claim on exemptions) required? If so...who signs?

I usually file electronically via TurboTax. If she has to sign a 8332 and I file with my return...it makes filing electronically impossible. If it's the opposite...no problem.

Thanks.What is the name of your state?
 


LdiJ

LdiJ

Senior Member
Rasesa said:
What is the name of your state? Georgia

I've asked this question all over the internet!!

Been divorced since June 2006. 3 minor children. Settlement agreement stipulates that we split children for exemption purposes. This year...I claim 2, she 1. We have agreed which ones this year.

Settlement agreement does not stipulate which parent is Custodial. It is silent. We share 50/50 physical and legal custody. Half the time with me, half with her. I pay her child support due to income disparity.

Is a form 8332 (release of claim on exemptions) required? If so...who signs?

I usually file electronically via TurboTax. If she has to sign a 8332 and I file with my return...it makes filing electronically impossible. If it's the opposite...no problem.

Thanks.What is the name of your state?
Click to expand...
If neither of you have been designated the residential parent, and its true 50/50, then probably form 8332 would not apply. Also, even though the instructions say that you have to send the form 8332 with your return, you really do not. You just have to have it available should the IRS ever question you.

However, and this is going to seem silly, but in the future it would actually be safer for each of you to get a little extra time (maybe an extra week or two out of the year) with the child(ren) that you are going to claim that year. That guarantees that you will physcially have those children more than 50% of the year, which will guarantee your entitlement for all credits/deductions regarding the children.
 
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