Shared custody and IRS treatment

[Bees Knees]

Custodial parent is permitted to revoke Form 8332, “Release of Claim to Exemption for Child of Divorced or Separated Parents,” and claim dependency exemption for child for that year, but only if noncustodial parent agrees and doesn't claim child

In other words, an 8332 is only good if it is attached to the return. If you don't attach it, it never existed.

[Davc]

will hold sway over anything the court says. I recently testified at a divorce trial on these issues. The opposing council was trying to tell the judge that the courts could decide who the custodial parent was (in an otherwise shared situation) and who would be head of household. He also said the court could decide how to divide the suspended passive losses and the NOL carry forward.

Courts will say all manner of stupid things. I used to think the stories I'd heard of divorce decrees that dictated a joint filing for the year in which the divorce was final were a joke until I read one.