Can I claim my child as a dependent if I have joint custody?

Non-custodial parents The non-custodial parent can claim the child as a dependent if the custodial parent agrees not to on their own tax return. Parents who have joint custody may also use this form to alternate the tax years in which each can claim the dependent.

How does joint custody affect tax credits?

Tax credits and the dependent deduction usually go hand-in-hand; you can’t claim the credit if you don’t first have the deduction. If your shared custody arrangement actually is an exact 50/50 split of parenting time, the IRS gives the deduction to the parent with the highest adjusted gross income.

Who is eligible to claim children on taxes with 50 / 50 custody?

If you are still unsure which parent is eligible to claim the children on their taxes in a 50/50 arrangement, you should know that you cannot both apply for the same credits and exemptions. For example, the IRS will probably deny both parents Head of Household status if they both apply for it.

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Can a custodial parent claim a child as a dependent?

All received tax returns are screened through an IRS computer to check for this and other red flags. Parents who are eligible to claim a dependent can opt to allow the other parent to do so instead by completing Form 8332, the Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent.

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When do you claim a child as a dependent on taxes?

The parent who has custody for the greater part of the year typically gets to claim the child as a dependent for tax purposes. The parent with the higher adjusted gross income (AGI) gets to claim the child if custody is split exactly 50/50—which is technically difficult when there are 365 days in a year. 2 

When to apply for the eligible dependent credit?

Eligible Dependent Claims and The Shared Custody Situation. A parent is able to claim the eligible dependent credit when they complete their Income Tax Return if the parent is single, divorced, separated and not supporting his/her spouse, and has a dependent child under the age of 19 who the parent is supporting.