8338

[wigragab]

My twins live with me full time. They spend every other Saturday and half Sunday with their dad. We agreed when the twins were born that I would claim one and he would claim the other.  He has never had them longer than a day and a half. He wants me to sign a 8338. I don't feel comfortable signing the form because the form states that the noncustodial parent spend half the time with him. Please please advise. 

[xmasbaby0]

You mean 8332.   Here is what that would mean:

Are you the custodial parent?  Do you have an agreement with the other parent to allow the other parent to claim them--due to divorce or that you live apart and share custody?  Did one of you sign a Form 8332?

If there is a signed 8332 then the custodial parent retains the right to file as Head of Household, get earned income credit and the childcare credit.  The non-custodial parent gets the child tax credit for children under the age of 17.  If the child is 17 or older the non-custodial parent gets the $500 credit for other dependents.

If you and the other parent have a signed agreement, you need to indicate in MY INFO that you have such an agreement.

As far as the IRS is concerned, the custodial parent is the one with whom the child spent the most nights during the tax year--at least 183 nights.

[wigragab]

They stay with me full time. No 8332 has been signed, I file head of household, do not know how he files. Should he still claim her with the form signed? 

[KeshaH]

The IRS requires that the noncustodial parent have a Form 8332 in these arrangements. Without the 8332, their dad wouldn't be able to claim them. Signing the 8332 doesn't make him the custodial parent. You would still be the custodial parent since the children live with you.