Who do we claim the kids on taxes? We split the year roughly 50/50 but not exactly. I know we need to figure this out with our accountant but wanted to know if anyone had a simple solution or if we just have to alternate years? This is the boring stuff nobody tells you about lol
You definitely need your accountant to handle this. The IRS has specific rules about who claims which dependent when custody's split, and it changes year to year based on who had primary custody days. Can't DIY this one
50/50 split usually means you alternate who claims them or you go by who had them for more than half the year technically. But the rules are weirdly complicated so yeah accountant time
You're gonna need an accountant for this one, man. The IRS has pretty specific rules about who claims them when it's 50/50. I think it comes down to who had them more nights that specific year, but don't quote me on it lol
We did the alternating years thing with our two kids. One year I claim both, next year she does. Makes it simpler and we both get the benefit eventually. Definitely check with an accountant though because every situation's different
We have alternating years - one parent claims kid A one year and kid B the next, then switches. Accountant set it up based on custody breakdown percentages. Honestly just ask the accountant to figure it out
This is one of those things where trying to be clever costs you money. Just pay the accountant to get it right. The exemptions are too valuable to guess on
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IRS Form 8332 is what you need to look up. Basically one parent claims them and the other signs a waiver. You could alternate years or work out who claims which kid. Definitely not a DIY situation though
lol my accountant literally said 'figure it out with your ex and then tell me' so that was helpful