1) It depends. Since there are 365 days in the year, one of you would have to have the child at least one night more than the other. It is not based on the court order, it is based on the actual time that the child is in your home. So, if you both have one child at your home an extra night or 2 during the year, then you both would be able to claim that child and file as Head of Household..
2) Yes, if you are going to revoke and release a child every year, you would both need to fill out and attach a form to your returns.
3) How old are your kids? The child tax credit is $2,000 per child, it is not based on age. So when you say it is lower for the second child I am not sure what you are referring to? As long as your child is under 17, it is the $2,000 child tax credit. If your child is 17 or older then they no longer qualify for the child tax credit, instead they get the $500 Other Dependent Credit.
4) No, Only the custodial parent can claim the Child and Dependent Care Credit.
- The noncustodial parent can't treat the child as a qualifying person even if that parent is entitled to claim the child as a dependent under the special rules for a child of divorced or separated parents. Pub 503
Divorced or Separated Individuals
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