Another Tax Question

[Chris]

I apologize, I misunderstood.  I will confess, I didn't read much past the first line after "the accounting BS, puh-leez".  Apparently, I took it the wrong way.  I thought that comment was directed at me.

I really do apologize for misunderstanding.

[anniewalker]

It's cool.  Sorry I was snappy back at you.  See - this is how Alec Baldwin ended up in the news!! LOL.  Even talking about divorce and child support and visitation is enough to make some folks go a little off their rocker.

As to accounting, I think the government has enough to do without getting in to hairbows, baseball and kool-aide.  I think a lot of these "calls to action" could be avoided if parents would act like adults instead of like kids arguing over who gets the big piece of cake.  I'm guilty of it!  No doubt.  I put my ex through the wringer, as he did me.  We nitpicked over MINUTES, we nitpicked over PENNIES, and we nitpicked over tenths of MILES.  We weren't good people and that made us lesser parents.  I wish it hadn't taken us 8 years to finally get along.  I'm just thankful that it finally happened.  I read other poster's stories and thank my lucky stars.   

Glad to meet you Chris, it looks like on some level, we share opinions! 

[Chris]

You sound like an intelligent woman, and again, I went on the defensive without reading your whole post, when I re-read it, it made more sense, duh.

Anyways, yes, this divorce stuff, it's a hellride if you ask me, but we get through.  I'm fortunate that me and ex didn't fight about much.  She did try to weasel out of splitting her retirement account with me, but I caught it.  Other than that, we didn't fight about custody (50/50 parenting time). We did fight about child support, because, as it turns out, she has to pay me child support, but it's been almost a year since she started paying it, and now no problems.  We actually get along pretty well. 

She just started seing this guy seriously a couple months ago, and sprung him on me on Easter Sunday during a kid exchange, and he will be spending time with my daughters.   That was a little tough, but I'm good with it now.  Time will tell as to how he treats my kids.

Nice to meet you Annie, and hope your day/night goes well.

[theycallmemom]

According to the IRS, the custodial parent gets the deduction, except in a pre-1984 decree.  Who is still raising kids under a pre-1984 decree?  Not very many.  Maybe some with kids still in college, and those who, unfortunately, have a disabled child.

However, you CAN waive the exemption and give it to the ncp by preparing a waiver of exemption, which the ncp files with their taxes.

This can be beneficial when the custodial parent makes too much money to benefit from education credits.  The person who claims the student as a dependent is entitled to the education credit, REGARDLESS of who actually made the payment. 

Please be sure to check these facts with the IRS or your tax preparer.  This is general info, not tax advice.