Tuesday, November 18, 2014

If legal custody of minor children changes, does that automatically mean that the person claiming the children on taxes changes if not speci...

Question

If legal custody of minor children changes, does that automatically mean that the person claiming the children on taxes changes if not specified in custody paperwork?



Answer

IRS rules determine who gets the deductions, and it's based on who has the most time. But the IRS generally honors agreements in the MSA. If there's no agreement check with your tax person or the IRS rules. Just make sure you don't both claim the kids or the IRS will be on you.



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