If you and your former spouse share children, you may have some questions about who can claim them as a dependent in the aftermath of your divorce. Oftentimes, a divorce judgment will offer guidance on this matter, but you will also have to follow the rules set forth by the Internal Revenue Service (IRS) to avoid facing an audit.
Generally, the custodial parent, or the parent with whom the children spend the most time, will have the benefit of claiming minor children as dependents after a divorce. However, the custodial parent may release rights to the credit and allow the noncustodial parent to claim the children.
Meeting the Requirements
Raising children can be incredibly expensive, which is why the tax code provides parents with a number of various tax credits that may result in a significant tax refund. Before you can claim a child on your taxes, however, you must first make sure you qualify and meet all the necessary requirements.
To qualify for the $2,000 Child Tax Credit, you must meet these requirements:
- Your child will be under the age of 17 at the end of the year
- Your child must have a Social Security Number
- Your child did not provide over half of their own support during the year
- You claimed your child as a dependent on your return
Additionally, you must demonstrate the following in order to qualify for a tax credit for your child’s care expenses:
- The child is a qualified dependent
- You sustained child care expenses while working or while looking for work
- You meet the threshold for credit, according to the IRS’s requirements
- You made care-related payments to an individual who is not your dependent
- You will have to identify the care provider’s tax identification number on your return
Speak to a Knowledgeable Family Law Attorney to Get Started on Your Case Today!
At the Law Offices of Jeffrey S. Graff, our family law team can provide the personalized attention and tailored solutions you need to navigate your case and obtain the best possible results. We understand how important the outcome of such legal matters is, so you can rely on us to get you through it. With more than 35 years of experience on our side, you can rest assured your case is in good hands with us.
Reach out to our law firm today at (805) 633-4999 to request a free consultation with our attorney to discuss the details of your case.