See “Children of divorced or separated parents
or parents who live apart” in IRS Pub 17 for full information.
https://www.irs.gov/publications/p17/ch03.html -
en_US_2015_publink1000170877
There is no such thing in the Federal tax law as 50/50, split,
or joint custody. The IRS only
recognizes physical custody (which parent the child lived with the greater
part, but over half, of the tax year.
That parent is the custodial parent; the other parent is the
noncustodial parent.)
Who can claim the exemption and credits depends on who is the
custodial parent. (By the IRS definition of custodial parent for tax purposes -
this is not the same as the custody that a court might grant.).
The test that the IRS uses to determine the custodial parent is
where the child lived for more than 1/2 (or greater part) of the year. The IRS
will go so far as to require counting the nights spend in each household - that
person is the custodial parent for tax purposes (if exactly equal and more than 183 days - The custodial
parent is the parent with the highest AGI, if less than 183 days then neither
parent has custody). And yes they are that picky.
See Custodial parent and
noncustodial parent under the residency test in Pub 17
https://www.irs.gov/publications/p17/ch03.html
- en_US_2015_publink1000170891
)
Only the
Custodial parent can claim: (Child would be listed as
non-dependent EIC & CC only)
-Head
of Household
-Earned Income Credit
-Child Care Credit
The non
custodial parent can only claim: (Child would be listed as
dependent)
-The Exemption
-
The Child Tax Credit
See Special rule to
divorced or separated parents (or parents who live apart).
https://www.irs.gov/publications/p17/ch03.html
- en_US_2015_publink1000170897
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
