taxes and claiming the kids

[maybebaby]

so this being the year that we formally will be living apart, and probably doing the legal separation thing, I'm wondering how the claiming of kids for taxes works. Is it possible for him to claim 2 and me to claim 2, or do we have to do split years? If anyone knows that would be great, google just isn't coming up with much and I haven't been able to get much of a response from legal aid as of yet. Thought I'd throw it out here...how do you decide how this is done in your situation?

Thanks much!

[Imakcerka]

You do what you both decide.  Seriously you can claim as you like. I think two and two is fair, but I've heard both parents wanting to claim and literally try to fight over having the kid one extra day that year as being the reason they get to claim.

[jess in hawaii]

Is your custody 50/50? Are you factoring in the Earned Income Credit (no more than 2 children usually)? Is your income/support obligation similar? These are all considerations. Sorry I don't have a definitive answer, but these are things that came up for me.

[Goodmom2008]

The two of you can work it out anyway you want.  That said, if custody isn't 50/50 physical and your stbx is not contributing financially, I would claim all of them.  The IRS is going to side with the parent who has the kids the majority of the year (talking about overnigts, not just days). 

[K1329]

Another consideration. If one of you is attending school & receiving federal financial aid, it may increase your eligibility to claim the child.
The situations I'm aware of vary. One couple alternates every year. A friend has it in her divorce agreement that she will claim the kids.

[Goodmom2008]

Originally Posted by K1329 

Another consideration. If one of you is attending school & receiving federal financial aid, it may increase your eligibility to claim the child.


 

That has absolutely nothing to do with the ability to claim the exemptions for the kids.  It is strictly based on time spent with each parent.  And if the time is equal (this is only possible in a leap year as that is the only year that has 366 days), then it is the parent with the higher income that gets to claim the child.  Receiving financial aid and attending school has no impact at all. 

[indie]

You can agree on a plan. We have three kids and we agreed and had it put into our settlement that each of us gets one every year and the third child we each get every other year.

[indie]

Our divorce paperwork actually says that each of us has the children 182.5 days per year. Granted some might be crazy enough to figure out who gets that extra day, but if that's the level you're playing at then good luck co-parenting. 

[Martha27]

I am not legally divorced yet but have been separated for a year now. I have the kids almost full time (he has every other weekend visitations) and I have not received more than 4 months worth of child support all year, so for us it's a no brainer- I'm claiming both kids and he agrees (thank goodness!) When we are legally divorced and go through court I am going to try and put in a stipulation that if he doesn't pay child support he doesn't get to claim either child. Otherwise I guess we will try and each claim one of the children or alternate years.