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| *Loan,banking and credit>>>child tax |
Can you claim child support payments as a deduction on taxes?? |
Can you claim child support payments as a deduction on taxes?? Nope. Source(s): I'm almost finished with my CPA license. no but you can clam the kids as dependents.... Nope. Sorry, only alimony is deductible to the person paying it and taxable to the recipient. It is the person who is paying the support's income. That will be on his/her W2 at the end of the year. The support you receive is not EARNED income (meaning you did not "work" for it, the support payer did), so you cannot claim it on your taxes. The person who is raising the child and receives the income can possibly get the Earned Income Tax Credit (depending on how much money YOU made last year). The person who is claiming the support will be able to claim that earned income at the end of the year. Hope this helps! I receive child support. Child support is never deductible for the person paying it. Child support is never taxable income. A person paying child support may not automatically claim the child as a dependent. A noncustodial parent may be able to claim a child as a dependent only if that dependency exemption is released by the custodial parent. Your tax advisor can tell you how this release is documented on your tax return. |
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