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| *Loan,banking and credit>>>child tax |
I pay child support, any way to claim that on my taxes?? |
I pay child support, any way to claim that on my taxes?? Sorry Tim No claims on the child support. We have been paying it to my husband's ex-wife for 10 years now and 4 to go! However, as far as claiming the children on your taxes, first come first serve. I know the IRS says the custodial parent gets them, but that is a guideline and not a law. My attorney advised us to claim them this year as soon as we could and ammend the taxes later. Also -FYI - new law passed in 2005 stating the custodial parent must pay the first $250 of the uncovered medical expenses before the non-custodial parent's share of the bills kick in. Have to go to court for it, but it can be worth your while. What state do you live in? Here in Virginia if you have custody for 90 days a year they go off of a different guideline and support is cut dramatically. Ours went from $789 to $550 a month and we get her every other Christmas, Thanksgiving, Easter, 4 weeks a summer and every other weekend and other holidays to make the 90 days. I feel ya. Good luck Nope sorry. It is non-taxable income to support your children. Only with a crocked accountant. Check with Dick Cheney. I hate to tell you but No ..... Some men who have wonderful X-wife's can trade off years of claiming there kids as dependents and get to write them off your taxes....But if your X-wife was so kind and wonderful then you'd still be with her....... Good Luck you can always ask her..... and ask her and ask her then beg her and bag her then ... well you get the idea. Yes, you can claim the child support you pay IF the other parent claims it as income. You must also have paid a certain required percentage of the child's overall costs....check with the local IRS office or you can also go online to www.irs.gov Hi, Tim! I'm sorry, but the answer to your question is a definite "no." The IRS clearly states that child support is never deductible to the payer and never taxable to the recipient. Check out the following IRS links for further info. Interest/Dividends/Other Types of Income: Alimony, Child Support http://www.irs.gov/faqs/faq4-5.html... Frequently Asked Tax Questions: Keyword: Child Support http://www.irs.gov/faqs/faq-kw24.html... |
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