Newsletter for April 20, 2022
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Who Claims the Child on Taxes When There’s Split Custody?
Having children could make an individual eligible for tax deductions when filing for taxes. Claiming children as dependents can get tricky if the parents are separated. Who claims taxes on dependents when there’s 50/50 custody?
What are the criteria to claim a child?
Filing taxes can be a long and daunting process, especially when parameters don’t outline certain situations like joint custody of children. The tax laws mention custodial and non-custodial parents but aren’t the clearest when parents share custody.
However, there are criteria to meet when claiming a child as a dependent. According to the IRS, the child must hold the following relationship to the person filing:
- Child, stepchild, adopted child, or foster child
- Sister, brother, or half-siblings
- Niece/nephew or grandchild
Not only do the children need to meet the relationship criteria, but they also must fall under the following descriptions:
- Younger than the person filing and younger than 19 by the end of the tax year
- Younger than the person filing, a full-time student for at least five months, and be under 24 by the end of the tax year
- If they’re disabled, age isn’t a factor
There are parameters and stipulations that must both hold true for the child being claimed:
- Lived in the same household as the person filing for at least half the tax year
- Didn’t pay for more than half of the living expenses within the tax year
Who claims the child when custody is 50/50?
According to the IRS, assuming both parents spent an equal amount of days with the child, the parent with the higher adjusted income will be able to claim the child when filing for taxes.
It’s important that both parents don’t claim the same child. If they did, both claims would be rejected and the government would give them time to amend the form. However, if neither parent removes the child as a dependent, they risk being audited and the IRS will determine which parent is eligible to claim the child.
Can parents decide which of them will claim a child as a dependent?
Parents can also come to a mutual agreement regarding which of them will claim the child when filing for taxes. Typically, when parents share 50/50 custody, they alternate between odd and even years on which parent claims the child. In this way, both parents (if eligible) have the opportunity to claim their child.
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In service to you and your family,
Managing Director, Hope4Families
UPCOMING EVENTS IN OUR CALENDAR
May 6, 2022
Happy Parenting – Malta (For Happier Children) 2nd International Experts Seminar: Changes Required for Family Well-Being
Hope4Families encourages you to send us your events to be featured at our website!
To learn more about Hope4Families, check our Website: @https://hope4families.net/welcome
MEET OUR PROFESSIONAL OF THE WEEK
Meghan Remington
Meghan Remington has a bachelor’s degree in Family Studies from Ohio University and a master’s degree in Clinical Counseling from The Ohio State University. She worked for several years in this field and loved being able to help people and families through difficult situations. She felt it was amazing to help others see the light at the end of the tunnel and make positive changes in their lives.
To learn more about Hope4Families, check our Website: @https://hope4families.net/welcome
FEATURED NEWS
Retreat Workshop for Alienated Parents & Grandparents
DONT MISS OUT!
APRIL 23-24, 2022
A Retreat for Alienated Parents and Grandparents will take place at The Resolution Center of Jacksonville, Florida. Our retreat weekend will consist of a Meet and Greet on Friday night, workshops throughout the day on Saturday by parents and professionals (PA competent), followed by a Sunday morning beachside brunch before departure.