You must be very careful when answering the questions in the dependent section as it is trying to determine if you are the custodial or non custodial parent according to the IRS rules .... however if you all live together then only one person can claim all the dependent tax attributes for that child.
Generally, only the custodial parent is
eligible to claim the following tax breaks:
- the
dependent's personal exemption
- head
of household filing status (if applicable)
- child
and dependent care tax credit
- child
tax credit and additional child tax credit
-
earned
income tax credit, and
- exclusion
for dependent care benefits
However, the custodial parent can waive his or her right to
claim a dependent in favor of the non-custodial parent. The non-custodial
parent would then be able to claim:
- the
dependent's personal exemption,
-
child
tax credit and
additional child tax credit, and
- tuition
and fees deduction or the education tax credits
