Taxes After Divorce
Question:
Which parent can claim a child on their taxes after a divorce?
Answer:
The IRS awards exemptions for dependents to the custodial parent, defined as the parent having custody for the greatest calendar days in a given year. It has little to do with "legal custody" and more so, where a child spends the greatest amount of days during a tax year.
Parties can agree in writing to share the exemption, or to award the exemption to the parent who does not otherwise qualify, but it must be made a provision in the judgment.
For more information, or to obtain IRS tax for 8322, visit: http://www.irs.gov/pub/irs-pdf/f8332.pdf.