Question

WILL 55 AND CHERYL 49 ARE MARRIED BUT HAVE LIVE APART SINCE MARCH 15 2017, THEY HAVE NOT DIVORCE DECREE OR SEPARATE MAINTANCE AGREEMENT, CHERYL WILL NOT FILLE A JOINT RETURN WITH WILL, LYNN 15 THEIR DAUGHTER WENT WITH CHERYL WHEN SHE MOVED OUT HAS LIVED WITH HER SINCE, CHERYL DID SIGN FORM 8332 WAIVING HER RIGHT TO LYNNS EXEPMPTION FOR 2017, TOGETHER WILL AND CHERYL PROVIDED MORE THAN 50% OF LYYN SUPPORT, WILL WAGES WERE $ 26 000; CHERYL WERE 27850; LYNN GORSS INCOME WAS $1325

Answer 1

In order to split the tax benefits related to a dependent, the following four criteria must be met:

1. The parents are divorced, or legally separated, or lived apart at all times in the last six months of the year;
2. The parents provided over half of the dependent child's total financial support;
3. The child is in the custody of one or both parents during the year; and
4. The custodial parent waives his or her right to claim the dependent using Form 8332 or a substantially similar document.

The custodial parent is highly advised to execute Form 8332 to release his or her claim to the dependent's exemption. Other documents such as divorce decrees, separation agreements, and child custody agreements may not provide the same level of detail as Form 8332. It's advisable to always prepare Form 8332 when parents agree on splitting the tax benefits for a particular dependent.

Form 8332 must be given to the non-custodial parent, who will then attach this form to his or her tax return. The custodial parent should keep copies of the form as well.

Here Will and Cheryl satisfied all the four conditions and eligible in splitting Lynn's expenses into half for claiming tax exemption.