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Can I Claim My Child On My Taxes?

This is the time of the year where most folks are trying to maximize the money that they are due from tax returns. Everyone who has worked and filled out an IRS W-4 form knows what a deduction is. One of the biggest tax deduction is attributed to any dependents that the tax payer has, in other words, children. To that end, one of the major issues that has to be decided during the divorce proceedings is custody and who can claim the children as dependents for the purposes of filing taxes. This delimma can come up as a temporary issue in the separation period of the marriage as well as a long-term issue after the divorce has been finalized. For the answer to this question it is important to first determine who will have custody of the child.

In Georgia the custody status of the child will usually determine which parent can claim the child as a dependent for the purpose of filing taxes. Custody can be joint or sole and is decided by determining what is in the best interest of the child. If custody is awarded in the form of sole custody to one parent then that parent is the only one who will be able to claim the Child Tax Credit. However, in instances where the parents share equal custody of the children they may both be able to avail themselves of the Child Tax Credit. However, the Child Tax Credit is not be confused with child support payments. The Child Tax Credit is designed to give an income boost to the parent or guardian of the child and is available for the legal custodian of the child to claim. Child support is different from the Child Tax Credit in that it is a financial obligation of the noncustodial parent but is not deductible.

The Faucette Law Firm assists clients with issues related to divorcecustody, child support and modifications. We service the Atlanta, Lithia Springs, Douglasville, Marietta and Smyrna areas. Contact our law firm today for a consultation.