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| *Loan,banking and credit>>>child tax |
Can paid child support be wrote off on your taxes? |
Can paid child support be wrote off on your taxes? Your "additional info" puts a new light on this. I'm reading in IRS Pub 17 the rules for dependents. The section on "Children of divorced or separated parents" says "In most cases, because of the residency test, a child of divorced or separated parents is the qualifying child of the custodial parent." And farther down, there's a line that says "the custodial parent is the parent with whom the child lived for the greater part of the year. The other parent is the non-custodial parent." It doesn't say anything about who has LEGAL custody, but rather who has PHYSICAL custody. If you have him 4 days a week, sounds like that would be you assuming it's all year. Is it also 4 nights? If so, you should be OK to claim him as a dependent. But be prepared to prove that you really have him that much. Child support is not deductible. But you might be able to claim him as a dependent. The person who pays child support cannot take a deduction on their income tases and the person who receives the child support does not report it as income. I don't know for sure but you should'nt, you helped bring them kids in to this world an YOU not us taxpayers should have to pay for them little darlings. No, and it's an absolute travesty! I've been fighting on that front for years. The money I pay is "child care expense", and thus should be tax-deductible. Unfortunately No. This is something that I would love to see Congress deal with. It is thousands of dollars a year, for the best cause, and for those who do pay their child support, there is less burden on society. I believe Congress should initiate at least a Credit for Child Support paid. It doesn't even have to be dollar for dollar, just against the taxable amount. Alimony is. Good Luck & Blessing IMHO Mucho Tax Experience You don't have to count it as income if you don't want to, but since the person who is paying out, doesn't have to pay taxes on it either... Be careful when you do. It could get complicated. |
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