Tag Archives: custodial
For purposes of deductions and exemptions, a custodial parent can claim a child as a dependent in many cases. The tax law has very specific rules about who can qualify as a custodial parent. The following describes a specific situation in which the rules of custodial parents needed to be examined closely to determine which […]
— Read moreIn most situations, you can only claim a child as a dependent if they lived with you for over 50% of the tax year. It’s standard that the taxpayer with whom the child lives with, in most cases the custodial parent, has the right to claim the child and the associated credits and exemptions. There […]
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