Can You Claim Child Support Payments On Your Taxes ?
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Can You Claim Child Support Payments On Your Taxes ?

If you are receiving or paying child support, then you may be eligible for tax exemptions and deductions based on the profile of the child support. However, most of the times, this depends on the child support agreement. When you filed for divorce, the court would have approved some terms and conditions for child support.

The Internal Revenue Service goes through these terms to determine your tax bracket. That is why it very vital to hire a good family court lawyer to assist you with drafting your child support agreements and divorce process.

Here are some general rules and regulations that apply to child support.

Payments made on the name of child support are not taxable. A parent who is receiving this amount need not disclose it as an income nor can the person who is paying it can deduct from the income. The amount you are paying or receiving should be mentioned in the child support agreement that was legally approved.

If you want the child support amount to be considered as a tax exemption, then you should show half the total years exemption as paid in a calendar year.

The parents must be divorced legally for claiming it as a tax exemption and also living apart for six months.

The Internal Revenue Service does not take into consideration arrangements where the parents can split the child support. The child is considered as a dependant only on parent in case of divorce. However, which parent will have more benefits by claiming the tax exemption can be determined.

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Can You Claim Child Support Payments On Your Taxes

 

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