Hello all!
I'm semi new here, though I am a chronic lurker:-) I have a question that I am sure has been asked, but my search for previous posts on it has been unsuccessful. Here goes:
DS's bio-dad wants to claim DS on taxes as his dependent next year. Background: Bio-dad and I are not/never have been married. DS does and always has lived with me. DS is 15 and I/DH have claimed him every year. Bio-dad lives out of state and visits with DS on holidays, summer, etc.
My understanding is that bio-dad does not meet the criteria to claim DS as his dependent (dependant resides with him 6+ months of the year, provides more than 50% of support, etc.)
If he does not meet the criteria, can he claim DS by me just 'letting' him?
Thanks in advance for any information:-)
PS--I already posted this on the Money Matters board. The consensus there is that I probably need the insight of a professional. I'm posting here because I'm wondering if similarly situated nesties may have had gotten such insigght from a professional.
Thanks again in advance.
Re: Can this be done?
There's an IRS form. I'm not sure which number it is, but DH's ex lets us claim one of the kids every year and she had to sign a form to let us claim her. We used Turbo Tax so I think that is how we found out about the form.
ETA: We had to send the form to the IRS with our signature page the first year. You can list multiple years on the form, so we had her sign off up to 2010.
Your question was answered correctly on Money Matters. The fourth or fifth post, I believe.
Yes, it can be done. You will need either a notarized letter or form 8332 I believe. You can find the information on page 18-19 of the instruction manual for the 1040 (and probably a different page for the 1040A but we itemize. It would be whichever page explains line 6c Dependents. The section should be captioned (or similar) Definitions and Special Rules - Children of Divorced or Separated Parents. You can also find it in Publication 501. www.irs.gov will have the information as well.
The relevant section reads:
Note the last paragraph as well. He can, in addition to the exemption, get the child tax credit. He won't qualify for any other credits (earned income, after school care, etc.) However, you will lose the child tax credit, his exemption, any child care credits, the earned income credit and any other credits (or possible stimulus this year, if that unlikely event occurs again) for which he might qualify you. You might want to do the math if any of that concerns you.
Thanks ladies! Very, very helpful information. Thank you very much--BPO I didn't know where to begin to look and/or what issues to weigh.
Thanks again:-)