Joint Custody and Taxes

[AkersTile]

What is the name of your state (only U.S. law)? MO

I just want to make sure I'm doing this right...

Mom and Dad have joint custody.

Directly from CO:
"MOTHER shall be entitled to declare the minor children A and B as her dependants on Federal and State Income Tax Returns and to claim the accompanying deduction and tax credits for said minor children EVERY YEAR.

FATHER shall be entitled to declare the minor children C and D as his dependants on Federal and State Income Tax Returns and to claim the accompanying deduction and tax credits for said minor children EVERY YEAR.

Each party shall, not later than January 31st each year, execute and deliver to the other party all necessary waivers and other documents necessary to accomplish the purpose of this provision, including, but not limited to IRS Form 8332."

So when I do Dad and my taxes this year, I do not even enter kiddos A & B, right? Or do I enter them but not claim them... not sure how I would do that? I already printed out 2 of the Form 8332 since it says one for each child. Dad will give those to Mom next Friday.

 

[FlyingRon]

You don't list them. THere's no place on the 1040 for listing children in general, only those people (other than your self and your jointly filing spouse) that you are claiming exemptions for.

 

[AkersTile]

You don't list them. THere's no place on the 1040 for listing children in general, only those people (other than your self and your jointly filing spouse) that you are claiming exemptions for.

Ok. That was what I thought, but wanted to make sure. I'd rather ask a stupid question here than do the wrong thing and have the IRS audit us or whatever. Thanks for the quick response

 

[davew128]

You HAVE seen the first page of a 1040 before right?

 

[LdiJ]

What is the name of your state (only U.S. law)? MO

I just want to make sure I'm doing this right...

Mom and Dad have joint custody.

Directly from CO:
"MOTHER shall be entitled to declare the minor children A and B as her dependants on Federal and State Income Tax Returns and to claim the accompanying deduction and tax credits for said minor children EVERY YEAR.

FATHER shall be entitled to declare the minor children C and D as his dependants on Federal and State Income Tax Returns and to claim the accompanying deduction and tax credits for said minor children EVERY YEAR.

Each party shall, not later than January 31st each year, execute and deliver to the other party all necessary waivers and other documents necessary to accomplish the purpose of this provision, including, but not limited to IRS Form 8332."

So when I do Dad and my taxes this year, I do not even enter kiddos A & B, right? Or do I enter them but not claim them... not sure how I would do that? I already printed out 2 of the Form 8332 since it says one for each child. Dad will give those to Mom next Friday.

With whom do the children primarily live? The parent with whom they primarily live is the parent who needs to give form 8332 to the other parent.

However, other than that, if you are not claiming a child the child should not be listed on the tax return at all. The only exception to that is if the non custodial parent is claiming the exemption, but the custodial parent is still claiming the child for HOH and EIC purposes.

 

[AkersTile]

With whom do the children primarily live? The parent with whom they primarily live is the parent who needs to give form 8332 to the other parent.

Child A lived 6 months with Dad and 6 months with Mom last year. Child B lived full time with Dad EOW with Mom. I printed off 2 of the Form 8332 and Dad said he will sign them and give them to Mom next Friday.

However, other than that, if you are not claiming a child the child should not be listed on the tax return at all. The only exception to that is if the non custodial parent is claiming the exemption, but the custodial parent is still claiming the child for HOH and EIC purposes.

That was what I was confused about. Does Mom claim the EIC for them or does Dad? I put the entire part for taxes that was in the CO in my 1st post, so maybe I'm just not understanding it. I haven't gone to school for taxes and accounting, so its a lot more confusing to me than other parts of their CO. So should I put them on the 1040 for the EIC, or should I just leave them off? I don't want to do the wrong thing with it.

 

[AkersTile]

You HAVE seen the first page of a 1040 before right?

Yes I have. I have filed both mine and Hubby's taxes for 2005 and 2006, and our joint taxes for 2007 on. This is the first year that Mom is able to claim any of the children, hence the first year I am dealing with any of this doing our taxes. Sorry if I am confused by things that seem easy to those who are more familiar with taxes.

 

[LdiJ]

Child A lived 6 months with Dad and 6 months with Mom last year. Child B lived full time with Dad EOW with Mom. I printed off 2 of the Form 8332 and Dad said he will sign them and give them to Mom next Friday.





That was what I was confused about. Does Mom claim the EIC for them or does Dad? I put the entire part for taxes that was in the CO in my 1st post, so maybe I'm just not understanding it. I haven't gone to school for taxes and accounting, so its a lot more confusing to me than other parts of their CO. So should I put them on the 1040 for the EIC, or should I just leave them off? I don't want to do the wrong thing with it.

Mom could not claim child B for EIC as the child has not lived with mom for more than 6 months of the year. However, if you and dad don't fall within EIC range, its irrelevant for you and dad to claim him for EIC purposes.

Child A is a different story. Child A would depend on which home child A slept in for the most nights in the year.

 

[AkersTile]

Mom could not claim child B for EIC as the child has not lived with mom for more than 6 months of the year. However, if you and dad don't fall within EIC range, its irrelevant for you and dad to claim him for EIC purposes.

Child A is a different story. Child A would depend on which home child A slept in for the most nights in the year.

I don't think we fall in the income range for EIC. I'm pretty sure Hubby made too much. I'm just not going to include those 2 in our taxes and save myself the headache. LOL