Many California parents are divorcing in 2024 after deciding that parting ways is better than staying in an unhappy marriage. They will be faced with numerous decisions regarding their children. These decisions will include topics like child custody, visitation and child support. Other issues address which parent will claim the children on tax returns after divorce.
Only one parent can list a child as a dependent on income tax returns. This is something to discuss to avoid confusion or a dispute. If both parents claim the same children on tax returns, it will spark trouble with the Internal Revenue Service.
Are you a custodial parent following your divorce?
The terms “custodial parent” and “noncustodial parent” refer to where children live for most of the year. If parents are not sharing custody 50/50, then one or the other will be a custodial parent or noncustodial parent. It is the custodial parent who typically claims children on tax returns. If children spend an equal amount of time between both households, the qualifying issue for which parent claims the kids on tax returns is income. Typically, in that situation, whichever parent has the higher adjusted gross income is the “custodial” parent for tax purposes.
The IRS posts helpful information on its website
Any California parent who is navigating divorce and is unsure about whether to claim his or her children on tax returns this year will want to visit the IRS’s website. The site includes a link to a document known as Publication 504, which provides detailed instructions regarding taxes for divorced parents. An experienced family law attorney can also provide guidance and support.