Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next
Author: makasha Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123515  
Subject: Dependents, divorce decrees, and custody Date: 10/22/2013 12:04 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hey all. What happens when custody changes from 50/50 between parents of minor children to 67/33%? These parents have a divorce decree that says they each get to claim one child, and after the older one is out of high school, they have to trade off claiming the younger one. But that was written when custody was 50/50. Now one parent has both kids 67% of the time. The custody order change did not mention dependents nor taxes.

If the parent who now has 67% custody tries to claim both children as dependents on 2013 tax return, what could the ramifications be? This is in California, if that matters.

[I offered my uneducated opinion and, wisely, I was asked to ask my imaginary interweb friends what know something about taxes. My opinion was: the IRS doesn't care WHAT the divorce decree says, they have their own rules about dependents, and it matters who provides more than half the support for the child(ren) in question. Now, the court may impose penalties or sanctions for not following the divorce decree, but I don't think the IRS will impose penalties based on someone not following it.]

Fire away!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2015!
Fistula Foundation: A World of Good!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.