That form is used when the custodial parent releases their claim to exemption of the child to the non-custodial parent. So for example, if you have custody of your child but you would like to let their other parent claim the child's exemption, you'd fill out Form 8332 and give it to the non-custodial parent so that they can file it with their return.
But the non-custodial parent has to meet the rules to be eligible to claim that child. You can find more details on this and Form 8332 here What is Form 8332: Release/Revocation of Release
Per IRS: If you are the custodial parent, you can use this form to do the following.
- Release a claim to exemption for your child so that the noncustodial parent can claim an exemption for the child.
- Revoke a previous release of claim to exemption for your child.
What you give up with Form 8332
Giving the completed Form 8332 to the noncustodial parent gives up more than just an exemption. For example, additional child tax credits are only available to the person who claims the child as a dependent.
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