@agsax2022 wrote:
Hold on. If I read form 8332 correctly, the custodial parent (unmarried parent earning more income) can release claim to some tax benefits (child tax credit, credit for other dependents), but still take the EIC, dependent care credit, and/or head of household filing status.
So I would interpret this as custodial parent can get dependent care benefits, and noncustodial parent can take the child tax credit for the same child as long as 8332 is filed.
It's not clear what you are responding to, since this is an old discussion.
Unmarried parents living together can't use form 8332 to "split" the tax benefits of a dependent. One parent claims everything and the other parent claims nothing, and should not even list the child on their return.
Form 8332 is used for parents who are divorced or live apart and share custody. In that case, it is possible for the custodial parent to release some of the tax benefits of a dependent to the non-custodial parent.
