Tax return laws on two dependents with equally shared parenting?

I have two children and am in the middle of a divorce. We have equally shared custody. Do we split up i get one and he gets one or do they both go to the parent making more?





REFERENCES!! pleeease! lolTax return laws on two dependents with equally shared parenting?
Dear CC: Make sure your divorce attorney is knowledgeable on tax laws and dependency. Spell out the custody arrangement in the divorce decree and if necessary split up the kids with each parent getting one.





Look at www.irs.gov and claiming a dependent. Also look at form 8332 for release of an exemption.





This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled AgentTax return laws on two dependents with equally shared parenting?
Look in pub 17 in the section on dependents. Unless there is a valid court order saying otherwise, the parent the child is with more nights of the year is entitled to the exemption unless that parent signs the exemption over to the other parent IN WRITING.





If they are with each parent exactly the same amount of time through the year, then the parent with the higher AGI gets the exemption.
IRS has determined that the parent the child spends the majority 'nite's with claims the dependency


court orders etc no longer apply for IRS


you need to ascertain the number of nites the child spent with you, if that is more than half of 365, then you claim the child