Hi
Q) Are you the custodial parent?
A) In my state there's no "custodial parent", there is "shared parental responsibility"
Q) Do you have an agreement with the other parent to allow the other parent to claim them--due to divorce or that you live apart and share custody? A) The divorce agreement says that the parents will declare the child as a dependent on alternate years. On even tax years I can declare my child
Q) Did one of you sign a Form 8332? A) For tax year 2024 my ex signed it for me
The problem I face is that even in the year that I can claim my child as a dependent, when TurboTax asks me for the number of months the child lived with me, I don't know what to enter... If I enter 6 months (b/c my days are less than half the year), I lose head of household, and I think I also lose some of the benefits of declaring a dependent. My refund decreases about $2K or $3K
So, even the year I can declare my child as a dependent, I don't get the full tax benefits of doing so
What good is the divorce agreement, and having form 8332 signed, if I can not get the full tax benefits of declaring my child as a dependent?
What would be the right way to handle this situation?
Thank you in advance,
Nick
