Jon R. Disrud Family Law Blog on Lawyers.com

Tax Deductions for Children

Wednesday, May 2, 2012 by Jon R. Disrud

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The Internal Revenue Code (IRC) gives a tax-payer an exemption for dependants, which includes a "qualifying child".  Therefore, when a party to a divorce or child custody case seeks to claim the child as dependent for tax purposes, we look to the IRC.  Under the IRC, the parent who has possession of the child for the greater part of the year is the "custodial parent" and is entitled to the exemption. If the child resides with each parent an equal amount of time, the parent with the highest adjusted gross income is entitled to the exemption.  If the parent entitled to the exemption signs a written declaration that he or she will not claim the exemption, the other parent may take the exemption.
 
Posted at 18:00 PM
Topic: Family Law
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