This is the first year I am filing by myself (not married) post divorce.
I have 2 children.
The children live in a 50/50 custody agreement between the parents. Each parent has them the same amount of time each year.
My divorce agreement states that each parent takes 1 child each year when it comes to the taxes, and we alternate which child that is between us based on the year.
This brings up several questions for me:
1) Can I file as "Head of Household" since the children are with me exactly half the year (not over half)?
2) My understanding is each year I have to complete form 8332 and list the child I am "giving up" for that year and hand it to my ex. Correct?
3) The child tax credit is greater for the first child and less for the second. We have 2 kids, but each of us only gets 1 child for tax purposes (which alternates if it's the younger or older). When I do the calculations for the child tax credit am I claiming the amount for the Older or Younger child? (Example lets say this year I get the younger child, which being the second born is the lower credit...am I getting the credit for the first or second child. In other words the 2nd child is the lower amount, but on my taxes I only have 1 child listed for the year so does that allow me to get a higher amount)?
4) Regardless of form 8332 and the fact I only get 1 of the 2 children each year, when I do the dependent care credit can I put in the amount I paid for aftercare/summer camp for BOTH children because I do pay for just over half of the care for both kids each year?
