a few issues

[poiduke]

What is the name of your state?illinois
i am divorced and pay child support for 3 children.jan 2004 1 of the children came to live with me.the ex agreed to cut back 1/3 support and let me take child deduction for file 2004.btw i know i need a cso modification.
part 2
my current relationship we share a house.i am not on mortgage or deed etc.
when we bought the house we agreed to take turns taking the mortgage interest.this year will be my turn.
my questions are: will the goverment take issue with these two new events in filing as i have never done so before?should i get documents from both the parties as to these agreements?
thank you

 

[Snipes5]

You can't claim the mortgage interest, as you are neither on the note nor the deed. You are not legally responsible for the debt, so you can't take the deduction.

They won't take issue with you claiming your child, unless your ex tries to claim the child also. Then you will have to submit documentation to prove your right to claim the child.

Snipes

 

[abezon]

1. Because the child lived with you all year, you are the custodial parent & get to claim the child at tax time. Be sure there are records somewhere documenting this. The best evidence is court documents, but you can also submit school records or medical records showing the child's address as being your home. If the records haven't been updated, get them changed immediately.

2. You may qualify to file as head of household, depending on whether you paid over 1/2 the cost of maintaining your home. Your significant other can still file as single and itemize. Assuming you are the person with the higher income, this actually gives you the best of both worlds.

3. As the custodial parent, you can claim a child care credit if you had to pay for day care for a child under 13. You also get to claim any child tax credit and can claim the child for earned income credit.

4. If you have a written, notarized contract with your S.O. making you responsible for paying the mortgage in 2004, you can claim the interest & taxes & itemize. Unless you have some *contractual* obligation to make the payments or are a part owner, you can't claim the mortgage interest. A verbal agreement is insufficient.

5. Documentation is ALWAYS best. Gather it now & put it with your copy of your 2004 return next spring.

6. Try to file as soon as possible & file electronically. That way your ex won't be able to claim the child living with you.

 

[poiduke]

i thank for your help.this will make my path to 2005 a smoother ride.