Which parent is allowed to claim a minor child as a dependent for tax purposes?
Under the tax code, the custodial parent is entitled to the dependency exemption. They must also show that they contribute one-half of the child’s support.
The exemption can be waived by the custodial parent to enable the non-custodial parent to claim the dependency exemption. The non-custodial parent must attach to their income tax return for the year the exemption is claimed, a written waiver. IRS Form 8332 is the proper form that must be attached to accompany the return. The parties’ settlement agreement is not enough for tax purposes to enable the non-custodial parent to claim the exemption.
When going through a divorce, it is a good idea to consult with an experienced divorce lawyer to have a better understanding of the tax ramifications of both support and property division. The experienced family lawyers at Karp & Iancu, S.C. offer expert divorce representation.